Security News > 2020 > June > Sharp drop in overall security spending forecast from Gartner due to COVID-19
Analytics firm Gartner has revised its 2020 security spending forecast in light of the COVID-19 pandemic, predicting an increase, but a much smaller one than originally expected.
"There are a few factors in favor of some security market segments, such as cloud-based offerings and subscriptions, being propped up by demand or delivery model. Some security spending will not be discretionary and the positive trends cannot be ignored," Pingree said.
Of the 10 security segments listed in Gartner's prediction, only two of them are forecasted to decline: Network security equipment and consumer security software at -12.6% and -0.3%, respectively.
Resilience in the security market, Gartner said, is largely due to increased penetration of the cloud-based delivery model, which was responsible for 12% of overall security deployments in 2019.
Cloud-based security has been expected to grow rapidly for some time, and new security concerns of the COVID-19 pandemic may serve to accelerate that transition as remote work means there's less need for centralized security inside of a castle-like perimeter.