Digital Lifescapes

Cybersecurity investment continues to be a top priority for most IT organizations. Worldwide spending on security-related hardware, software, and services is forecast to reach $103.1 billion in 2019 -- that's an increase of 9.4 percent over 2018. The pace of growth will continue as industries invest heavily in IT security solutions to meet a wide range of cyber threats. According to the latest market study by International Data Corporation (IDC), worldwide spending on IT security solutions will achieve a compound annual growth rate (CAGR) of 9.2 percent over the 2018-2022 forecast period and total $133.8 billion in 2022. IT Security Market Development Three industries will spend the most on security solutions in 2019 -- banking, discrete manufacturing, and federal or central government -- will invest more than $30 billion combined. Three other industries (process manufacturing, professional services, and telecommunications) will each see spending greater than $6 billion this ...

The ongoing threat of cyber attacks on enterprise IT environments is driving new security-related investments. Worldwide spending on information security products and services will reach $81.6 billion in 2016 -- that's an increase of 7.9 percent over 2015, according to the latest worldwide market study by Gartner. Consulting and IT outsourcing are currently the largest categories of spending on information security. Until the end of 2020, the highest growth is expected to come from security testing, IT outsourcing and data loss prevention (DLP). Preventive security will continue to show strong growth, as many security practitioners continue to have a buying preference for preventive measures. However, solutions such as security information and event management (SIEM) and secure web gateways (SWGs) are evolving to support detection-and-response approaches. Gartner expects the SWG market will maintain its growth of 5 to 10 percent through 2020, as organizations focus on detecti...

According to the latest worldwide market study by Technology Business Research (TBR), total revenue for IT security hardware and software products -- including managed and hosted security services -- totaled nearly $50 billion in 2014 and will grow at an 18.9 percent CAGR to more than $118 billion by 2019. "Customers are opening their wallets in an urgent effort to protect their data and their reputations from increasingly sophisticated attacks," said Jane Wright, senior analyst and security research lead at TBR . According to the TBR assessment, cyber criminals and hackers are exploiting enterprise user endpoints to infiltrate and navigate customer infrastructures and steal data or disrupt business operations. To block the attacker entry points, enterprise IT managers will increase their spending for endpoint-based advanced threat detection and response solutions, which will propel revenue growth in the endpoint security segment to an estimated 23.2 percent CAGR throug...