Our website uses cookies

Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing Infosecurity Magazine, you agree to our use of cookies.

Okay, I understand Learn more

Cybersecurity Spending to Hit $170Bn by 2020

As the cyber-threat landscape continues to grow in both complexity and footprint, security spending is rising in tandem, according to some consolidated analyst figures provided by Cybersecurity Ventures.

The worldwide cybersecurity market is set to be worth $75.4 billion in 2015, according to Visiongain—a number that is expected to reach $101 billion in 2018 (Gartner) and $170 billion by 2020 (MarketsandMarkets), translating to a CAGR of 9.8% from 2015 to 2020.

Some verticals will spend more than others, as will some geographies. TechSci Research said that the aerospace, defense and intelligence vertical continues to be the largest contributor. Some companies are also spending record amounts: Analysts at FBR & Co. said that that the number of seven-figure deals have increased by 40% year-over-year.

Meanwhile, North America and Europe are the biggest markets. But, Asia-Pacific is rapidly emerging as a big spender, driven by emerging economies such as China, India and South-East Asian countries. MicroMarketMonitor also found a few geographic data points worth noting in its recent report:

The Europe Cyber Security Market: This region is expected to grow to $35.53 billion by 2019, with an expected CAGR of 7.2% for the period 2013-2019. This market contributes 26.95% of the global market and will slightly fall down to 22.81% by 2019.

The Middle East and Africa Cyber Security Market: This is expected to grow to $13.43 billion by 2019, with an expected CAGR of 13.7% for the period 2013-2019. This market contributes 7.19% of the global market and will slightly grow to 8.62% by 2019.

The Asia-Pacific Cyber Security Market: This is expected to grow to $32.95 billion by 2019, with an expected CAGR of 14.1% for the period 2013-2019. This market contributes 17.21% of the global market and will slightly grow to 21.16% by 2019.

The Latin America Cyber Security Market: This is expected to grow to $11.91 billion by 2019, with an expected CAGR of 17.6% for the period 2013-2019. This market contributes 5.18% of the global market and will slightly grow to 7.65% by 2019.

A careful look at the numbers indicates the EMEA market (Europe, Middle-East, and Africa) is expected to contribute approximately 35% of overall cybersecurity spending by 2019.  Latin America is the fastest-growing region, and expected to grow more than twice as fast as the European market through 2019.

So where’s the spending going? According to IDC, the main areas for growth are security analytics (SIEM) (10%); threat intelligence (10%); mobile security (18%); and cloud security (50%).

What’s Hot on Infosecurity Magazine?