At the end of 2019 companies will spend almost $107 billion on data protection, which is 10.7% more than last year’s figures. Such a forecast was made by IDC experts in the agency’s report on global investments in information security.
What are the companies going to do with the information security budget?
Most of the money will be spent on such services:
– managing cybersecurity processes;
– integration services;
– consulting services;
– information technology training and education.
These costs will increase by more than 11% annually over the next five years.
Software investments are in second place in terms of costs. This is almost $38 billion. The third place is occupied by equipment costs, which this year will be more than $21 billion. Most of this money will be spent on products that ensure the security of the network infrastructure.
Countries and industries
The first place in terms of costs of Information Security systems is occupied by the USA with $46.2 billion, followed by China, Great Britain, and Germany. Small and medium business costs in IDC are estimated at $27 billion. Private consumers will spend about $5.8 billion on security products and services.
Banks, manufacturing enterprises and government organizations, as well as last year, spend the most money on cybersecurity. These industries produce up to 30% of global investment in the InfoSec. More than 35% of the budget is allocated to information security management and integration services.
As for state organizations, they have the fastest-growing costs of data protection. According to IDC forecasts, the budget for information security will increase by 12.5% annually. The telecommunications industry (annual growth – 11.9%) and extractive industries (11%) are in the top three leaders in this category.
The budget of the InfoSec will grow by 9.4% annually in the next five years. By 2023, global spending on security will reach $151.2 billion per year.
Companies from 43 countries working in 20 economic spheres took part in the survey.