Security News > 2021 > April > Asian buyers set for security spending spree to catch up on shabby strategies
Asian businesses are set for a security spending spree, according to analyst firm IDC. The firm's new Worldwide Semiannual Security Spending Guide for 2021 has tipped the APAC region to spend US$23.
1bn on security products and services in 2021, an increase of 12.6 per cent.
Simon Piff, IDC's APAC veep for trust, security, and blockchain research, suggested local businesses are playing security catch-up.
Managed services providers should do well: IDC tips them to score 40 per cent of all security services spending.
IDC says it will account for 40 per cent of security spending over its forecast period and deliver a five-year compound annual growth rate of 16.8 percent.
The Middle Kingdom is already soaring, with IDC finding H2 2020 security spend jumped 24.3 per cent compared to H2 2019.