Security News > 2021 > May > Cybersecurity spending to hit $150 billion this year
The 12% bump in spending will be driven by ongoing demand for remote workers and cloud security, says Gartner.
In a report released Monday, research firm Gartner forecast that global spending on information security and risk management services will jump to $150.4 billion this year, a gain of 12.4% from last year.
Gartner pegged growth in spending across all areas of security, including applications, the cloud, data, identity access management, infrastructure protection, integrated risk management, network security equipment, security services and consumer security software.
The largest beneficiary will be security services with spending on hardware support, implementation, and outsourced services reaching almost $72.5 billion this year.
Spending will also be high in 2021 on infrastructure protection at $24 billion, network security equipment at $17 billion and identity access management at $14 billion.
This year, such spending will hit $841 million, a gain of 41%. In particular, cloud access security brokers stand to see dramatic growth in spending.