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The Increasing Trend of Consolidation in the IT and Cybersecurity World

February 27, 2024


In recent years, the world of IT and Cybersecurity has seen a notable trend toward consolidation. Naturally, most people point to shrinking budgets as the driver behind this. After all, a new report from IANS Research and Artico Search found that cybersecurity spending experienced a 65% drop in growth during the 2022-23 budget cycle.

But the reality is that other factors are at play. The consolidation is a phenomenon that encompasses micro-level initiatives driven by the Chief Information Office (CIOs) and Chief Information Security Officers (CISOs) seeking simplicity and efficiency. In addition, the macro-level effects are spurred by challenges in obtaining venture capital funding.

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