Gartner Latest forecasts global spending on security and risk management will exceed $ 150 billion this year.

According to Gartner‘s most recent forecast, worldwide spending on IT, risk management and technology will increase by 12.4 percent in 2021 to USD 150.4 billion. These expenditure grew 6.4 percent last year.

The growth rates are reflecting strong demand for the technologies designated because of the proliferation of cloud services and the increased number of remote workers, according to experts from Gartner.

The largest categories of expenditure in 2021, worth almost 72.5 billion, comprised security services, including consulting, Hardware Support, implementation and outsourcing.

Second, the investment is expected to amount to $ 23.9 billion in infrastructure protection. It should be noted that the largest increase in costs – by 16.8 per cent in this segment is expected.

Network security equipment is the third biggest expense item. A worldwide allocation of 17.0 billion dollars will be made, although the segment is lower than the entire market in terms of growth. Expenditures on network security equipment should increase by 8.9% annually.

Looking ahead, we see early signals on the market that machine learning technologies will become increasingly automated and will be adopted in support of AI safety. Organizations will extend their detection and response activities to combat attacks and standardize them “Lawrence Pingree, Vice President of Research Management, Gartner, said.

With 61 percent of the more than 2,000 CIOs surveyed increased investments in cyber/information security, cyber safety was the top priority in this year’s new expenditure survey.

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