Surging cybersecurity spending

A new report suggests that revenues from cyber security last year topped over $160bn, and are expected to jump by a further $11.2bn this year as the focus moves to GDPR adherence and adherence to similar legislation.

By 2023/4 spending is expected to be $223.7bn, which means that cybersecurity spending will have risen faster than total IT budgets over the next five years.

The report, “Privacy and state espionage tightens focus on security – Cybersecurity spending forecast to 2024”, published by Rethink Technology Research, suggests that the European Union’s GDPR (General Data Protection Registrar) has set the agenda for legislation over data privacy and protection worldwide and is helping to generate this spike in spending on security measures that ensure compliance. ..Read More..

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