Security News > 2021 > May > Gartner: Global Security Spending Will Reach $150 Billion in 2021
Research and advisory giant Gartner predicts that global security and risk management spending will exceed $150 billion this year.
The company forecasts that information security and risk management will grow by more than 12 percent in 2021.
Gartner says nearly half of the total, roughly $72 billion, will be spent on security services, including consulting, hardware support, and implementation and outsourced services.
Significant amounts of money will also be invested in infrastructure protection, network security equipment, and identity access management.
The company believes less than a billion will be spent on cloud security, which it described as the "Smallest but fastest growing market segment."
"Organizations continue to grapple with the security and regulatory demands of public cloud and software as a service," said Lawrence Pingree, managing research vice president at Gartner.