LONDON, U.Okay., September 28, 2023 – Worldwide end-user spending on safety and threat administration is projected to complete $215 billion in 2024, a rise of 14.3% from 2023, in response to new forecast from Gartner, Inc. In 2023, international safety and threat administration end-user spending is estimated to achieve $188.1 billion.

“The continual adoption of cloud, steady hybrid workforce, fast emergence and use of generative AI (GenAI), and the evolving regulatory setting are forcing safety and threat administration (SRM) leaders to reinforce their safety and threat administration spending,” stated Shailendra Upadhyay, Senior Analysis Principal at Gartner. “On the identical time, they’re focusing their efforts by adopting technical safety capabilities that present far better visibility and responsiveness throughout the group’s whole digital ecosystem and restructuring the way in which the safety perform operates to allow agility with out compromising safety.”

Spending on information privateness and cloud safety are projected to document the best progress charges in 2024, with every phase rising greater than 24% year-over-year. Privateness stays a prime organizational precedence as rules that influence the processing of non-public information proceed to emerge, together with these associated to the usage of AI. Gartner predicts that by 2025, 75% of the world’s inhabitants could have its private information coated by trendy privateness rules.

The continued progress in public cloud companies will bolster spending on cloud safety instruments. Within the cloud safety phase, the mixed spending on cloud entry safety brokers software program (CASB) and cloud workload safety platforms (CWPP) is projected to complete $7 billion in 2024, up 24.7% from 2023. Demand for cloud-based detection and response options — similar to endpoint detection and response (EDR) and managed detection and response (MDR) — can also be anticipated to extend in 2024.

Safety Companies Phase to Symbolize 42% of World Safety and Danger Administration Spending

Spending on safety companies – consulting, IT outsourcing, implementation and {hardware} assist –is forecast to complete $90 billion in 2024, a rise of 11% from 2023. Safety companies is predicted to symbolize 42% of complete safety and threat administration end-user spending in 2024, and to stay the most important space of safety and threat administration spending in 2024. 

“In gentle of cyber dangers rising, cyberthreats proliferating and a altering working setting, it’s extra essential than ever for organizations to construct and optimize a cybersecurity program,” stated Upadhyay. “It’s the cornerstone of cybersecurity initiatives which assist SRM leaders safe new environments, shield in opposition to the expanded assault floor, eat safety capabilities in new methods and create higher efficiencies via automation.”

Gartner shoppers can learn extra in “Forecast Evaluation: Info Safety and Danger Administration, Worldwide.”

Learn to handle human threat to construct a security-conscious group within the complimentary Gartner book 4 Methods to Obtain Safe Worker Behaviors.

Gartner Safety & Danger Administration Summit 

Gartner analysts are presenting the most recent analysis and recommendation for safety and threat administration leaders on the Gartner Safety & Danger Administration Summit, going down September 26-28 in London. Observe information and updates from the conferences on X utilizing #GartnerSEC.

About Gartner for Cybersecurity Leaders
Gartner for Cybersecurity Leaders equips safety leaders with the instruments to assist reframe roles, align safety technique to enterprise goals and construct packages to stability safety with the wants of the group. Extra info is accessible at https://www.gartner.com/en/cybersecurity.