Spending on security-related hardware, software and services is forecast to reach $133.7 billion in 2022 against $92.1 billion forecast for 2018, according to IDC.
“Privacy has grabbed the attention of Boards of Directors as regions look to implement privacy regulation and compliance standards similar to GDPR,” said Frank Dickson, research vice president, Security Products at IDC.
Enterprises will be spending $40.2 billion in 2018 on security-related services. Managed security services will be the largest segment within the services category, delivering nearly 50 percent in 2022. Integration services and consulting services will be responsible for most of the remainder.
Enterprises will be spending $34.4 billion in 2018 on security software. Endpoint security software will be the largest software segment, followed by identity and access management software and security and vulnerability management software, throughout the forecast period. Hardware spending will be led by unified threat management solutions, followed by firewall and content management.
Banking will be spending $10.5 billion in 2018 and $16 billion in 2022 on security solutions. Security-related services, led by managed security services, will account for more than half of the industry’s spend throughout the forecast.
Discrete manufacturing will be spending $8.9 billion on security solutions in 2018.
Federal / central government will be spending $7.8 billion in 2018 on security solutions in 2018.
