Data443 Risk Mitigation Inc (ATDS)

[RizZo]

Cybersecurity: This is how firms are spending their budget this year
A tech security skills shortage, new threats and compliance demands are all pushing spending in fresh directions.

Spending on security hardware, software, and services in Europe could reach $27.3bn this year, driven by new security threats, a lack of skilled staff, and GDPR and other compliance requirements.

More than half of 2019 security spending in Europe will go on services – $14.8bn – followed by software – $8.6bn – and hardware – $3.9bn. Managed security services – $5.8bn – and integration services – $5.4bn – will account for the majority of services spending. Growth in managed security services for 2019 is expected to reach 14.2%, the fastest growth of all technology categories. Mark Child, European security research manager at IDC, said the level of security threats and the burden of defending against them is worsening the security skills shortage and driving organisations to invest in managed security services.

The other fastest-growing categories for 2019 will be security analytics, intelligence, response, and orchestration software (AIRO), which allows firms to make better use of the intelligence generated by both their internal monitoring and external feeds to respond better to incidents, and digital trust software.


Larger companies will continue to invest more in security than smaller businesses. Organisations with 500 or more staff will account for 60 percent of European IT security spending this year.









https://www.zdnet.com/google-amp/article/cybersecurity-this-is-how-firms-are-spending-their-budget-this-year/?__twitter_impression=true