Global security spending to reach $377 billion in 2028 as cyber threats surge
New Delhi, March 23 (IANS) Amid growing cyber attacks, worldwide security spending is expected to see sustained growth throughout the 2023–2028 period, reaching $377 billion in 2028, according to a new report.
According to latest forecast from the International Data Corporation (IDC), global security spending is expected to grow by 12.2 per cent (year on year) in 2025.
The increasing complexity and frequency of cyberthreats — accelerated by generative AI (GenAI) and AI in general — are driving organisations worldwide to adopt more advanced defensive measures.
The United States and Western Europe will continue to account for more than 70 per cent of global security spending in 2025.
However, all geographic regions are expected to see consistent growth in security spending this year, with the highest increases in Latin America, Central and Eastern Europe, and the Middle East and Africa.
“Growing digital transformation and hiking emerging technology adoption across the Middle East & Africa (MEA) region — especially countries in the Gulf Cooperation Council (GCC) — have pushed the demand significantly for security solutions to face the evolving threat landscapes,” said Eman Elshewy, senior research manager with IDC Data and Analytics.
Security software will be the largest technology group in 2025, representing more than half of the worldwide security market this year, as well as the fastest growing one, with a 14.4 per cent year-on-year growth rate.
The security software market growth will be driven especially by cloud native application protection platform (CNAPP), identity and access management software, and security analytics software growth, reflecting the special focus that companies will put on integrated cyberthreats detection and response around their whole organisational perimeter.
Security services will be the second fastest growing technology group in 2025, driven by the continuous expansion of managed security services, on which organisations of all sizes will continue to increase their focus as a flexible and efficient way to face new security challenges.
Finally, security hardware will rank third, achieving single-digit but steady growth in 2025, said the report.
—IANS
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