Global enterprise security spending to hit $103 billion this year

The pace of enterprise information security spending on hardware, software, and services is expected to grow 9.4 percent this year over 2017, according to a recently released forecast from the market research firm IDC. According to IDC, that pace of growth, which is considerably higher than the pace of technology growth overall, is expected to continue for the next several years as organizations across industries invest in securing their enterprise and meeting regulatory demands.

The largest technology category by spending this year is expected to be the managed security services segment, which should reach $21 billion. The managed security services market is expected to grow at a rate of 14.2 percent. Network security hardware will be the second largest category, this includes unified threat management, firewalls, and intrusion detection and prevention technologies. Next up are integration services and endpoint security software.

The lion’s share of security spending will be large enterprises (which IDC sets as 500 to 1,000 employees) and very large enterprises, those with more than 1,000 employees. IDC projects that large business security spending will grow just over 11 percent annually, while very large businesses will grow at 9.4 percent annually.

Organizations in the United States will be the single largest geographic region when it comes to security spending, collectively forecast to reach about $45 billion this year. The federal government and discrete manufacturing will account for 20 percent of the U.S. total. The U.S. will be followed by organizations in China, where state/local government, telecommunications, and central government are expected to comprise the largest percentage of security spending in that nation.

Medium and small businesses, along with consumers, will be spending as well this year, with each buying $26 billion and $5.7 billion on security hardware, software, and services throughout 2019.

Leave a Comment

Your email address will not be published. Required fields are marked *