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. In the consumer context, information security may be limited to the use of passwords to control access to computer hardware, or the use of firewalls and anti-virus software to protect desktop computers and other electronic consumer devices from harmful or malicious intrusion. At the other end of the spectrum, enterprise information security is a complex undertaking, covering computers, servers, routers, telecommunications equipment, and other electronic systems, relying on software, hardware, and information management policies to secure corporate data.
The right money in the right place
Since the number of threats is continuously increasing, the need to protect digital assets and network devices becomes greater too. By 2024, the information security technology market is estimated to be worth 174.7 billion U.S. dollars worldwide. The industry is registering growth in revenue across all its segments which keep developing according to the expanding nature of IT security. For instance, security services - a major market and the largest IT security segment - are forecast to generate 72.5 billion U.S. dollars in 2021. Security software also plays an essential role in the global IT security industry, peaking its worldwide revenue at nearly 50 billion U.S. dollars in 2020. Security software is meant to ensure protection on laptops or mobile devices from malicious threats and offers support to a broad range of actors – from companies and users to systems and data.
At the same time, as long as businesses continue to improve their IT infrastructure and transfer their data to the cloud, the risks increase as well. In this regard, the Security as a Service (SECaaS) market is projected to amount to 12.6 billion U.S. dollars in 2022 and will double the revenue by 2026. This business model is based on a service provider that incorporates their security services into business infrastructure based on a cost-friendly subscription that most individuals or corporations can purchase, without requiring additional on-premises hardware.
Towards a safe digital world
Analysts have suggested that security trends are being shaped by other emerging tech trends, such as big data or the internet of things (IoT). One impact of this has been the shift towards managed security services. This market has been continuously developing over the last few years, aiming at mitigating two major issues that companies have always been facing: human error and limited security staffing in the face of rapidly evolving threats. Unfortunately, in spite of the increasing awareness concerning corporate cyber security investments, there are still businesses that refrain from implementing cyber security measures until they become targets of malicious attacks and suffer financial consequences. In 2021, 12 percent of surveyed companies were not interested in adopting cloud-based cyber security services, while another 28 percent were still just searching to implement cloud data protection without having taken any substantial actions. In a century where cyber-crimes are rapidly becoming some of the most threatening and harmful crimes, IT security is the anchor which keeps us safely surfing in a digital world.
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In the following 6 chapters, you will quickly find the 45 most important statistics relating to "IT security".