Total spending on global information security market by segment 2017-2020

Global spending on information security has been growing from 2017 to 2020, increasing from 101.5 billion U.S. dollars in 2017 to a projected 123.8 billion in 2020, an expected 2.4 percent growth from 2018, down from the previous forecast due to the coronavirus (COVID-19) outbreak. Most spending has concentrated in security services, infrastructure protection and network security equipment. Spending on security services in 2020 is expected to reach 64 billion U.S. dollars.

Continued growth in global information security market

   The information security technology market is forecast to grow in the next few years. By 2023, the worldwide spending in information security is expected to be double that of 2016. Information security refers to the practice of managing access to information, whether that is securing information from unauthorized access, or verifying the identity of those who claim to have authority to access information. The rise of new markets such as the Internet of Things (IoT) is shaping securing trends, creating a shift towards managed security services and other segments of IT security. Worldwide revenue from managed security services is forecast to more than triple in 2022 compared to that of 2015.