Cybersecurity spend to rise as global economy recovers

Enterprise spending on cybersecurity solutions is set to rise by up to 10% this year as the global economy recovers from the pandemic, according to a new analyst report.

 

The findings of Canalys suggest that spending on cybersecurity equipment, software and services will reach more than $60 billion by year end. Cybersecurity, said the report, will remain a high priority as the range of threats broadens and new vulnerabilities emerge. Canalys also predicted that the frequency of attacks is unlikely to reduce.

 

The survey looked at expected shipments of endpoint security, network security, web and email security, data security, vulnerability and security analytics, and identity access management. It identified that cybersecurity budgets remained generally solid during the pandemic, but that security spending by SMBs and by organisations in troubled sectors like hospitality, retail and transport was negatively affected.

 

“The biggest threats are always those not yet known,” said Matthew Ball, Canalys Chief Analyst. “The discovery of the SUNBURST advanced persistent threat campaign at the end of 2020, stemming from malicious code injected into the widely used SolarWinds Orion IT management platform and subsequent infiltration into other systems, highlights this. Cybersecurity professional services engagements in response to this latest issue will be one of many factors contributing to sustained investment this year, especially in newer solutions to mitigate emerging threats. Growth in add-on subscriptions providing new features, products to secure the cloud and delivered from the cloud, and upgrades to existing solutions will be key drivers for expansion. The need for organizations to adopt multi-layered and holistic approaches, combining employee awareness training, data protection and backup, threat and vulnerability detection, and response will remain critical.”

 

The following links will be useful for anybody researching cybersecurity trends:

 

Canalys

Dell’Oro

Omdia

 

Carbon Black

Crowdstrike

F5

FireEye

Fortinet

McAfee

NetFoundry

Palo Alto

 

 

This link to an event held late last year will be another route to useful added information:

Combating Today’s Cybersecurity Threats Faced by CISOs in Enterprise and Hybrid Cloud Environments

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