Global spending on cyber security is growing at a double-digit rate. According to the latest forecasts from analyst firm Gartner, end users will spend $213 billion on information protection this year, significantly strengthening the cyber security market.
This is more than 10 per cent higher than last year, when the market was worth $193 billion. The trend is set to continue, with spending expected to increase by a further 12.5% next year, reaching $240 billion.
The main driver of the market is security software. It is in this segment that investments are growing the fastest, which is directly linked to the massive migration of companies from local (on-premise) systems to the cloud.
Moving to a new environment generates new, specific risks to which companies must respond.
Software spending is expected to reach almost $106bn this year. The key technologies that organisations are investing in are Cloud Security Posture Management (CSPM) tools and Cloud Access Security Brokers (CASB) platforms that protect access to cloud resources.
Other segments also recorded increases:
- Security services: Growing to nearly $84 billion by 2025.
- Network security: Growing to over $23bn by 2025.
In addition to cloud transformation, a key driver of spending is artificial intelligence, including generative models. AI has become a double-edged weapon – on the one hand, companies are using it to strengthen their defences, while on the other, cybercriminals are using it to create increasingly sophisticated and effective attacks.
This technological arms race, coupled with increasing regulatory pressure and greater awareness of risks (especially in the SME sector), will keep investment rates high in the medium term.
Despite the overall upward trend, analysts point to some caution on the part of some companies.
The uncertain economic climate is causing some organisations to look more closely at new spending. However, fundamental factors – the growing scale of threats and regulatory requirements – mean that cyber security budgets will remain a priority.
