Total spending on global information security market 2017-2023, by segment

Global spending on information security has been growing from 2017 to 2022, increasing from 101.5 billion U.S. dollars in 2017 to 169 billion U.S. dollars in 2022. Most spending has concentrated in security services, infrastructure protection, and network security equipment. Spending on security services is expected to reach nearly 76.5 billion U.S. dollars by 2023.

Continued growth in global information security market

   The information security technology market is forecast to grow in the next few years. By 2024, the worldwide spending on information security is expected to be more than double that of 2017. 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 cloud management and security services is forecast to reach almost 30 billion U.S. dollars in 2022, compared to just five billion in 2015.