HOW HAVE
BUSINESS LEADERS
ADAPTED THEIR
SECURITY BUDGETS
TO MANAGE THEIR
OPERATIONS
MOVING FORWARD?
artner, worldleading
research
G
and advisory
company, has
forecasted
worldwide
security and risk
management spending growth to slow
but remain positive in 2020. Worldwide
spending on information security and risk
management technology and services will
continue to grow through 2020, although
at a lower rate than previously forecast,
according to Gartner.
Information security spending is
expected to grow 2.4% to reach
US$123.8 billion in 2020. This is down
from the 8.7% growth Gartner projected
in its December 2019 forecast update.
The Coronavirus pandemic is driving
short-term demand in areas such
?
as cloud adoption, remote worker
technologies and cost saving measures.
“Like other segments of IT, we expect
security will be negatively impacted by
the COVID-19 crisis,” said Lawrence
Pingree, Managing Vice President at
Gartner. “Overall, we expect a pause and
a reduction of growth in both security
software and services during 2020.
“However, there are a few factors
in favour of some security market
segments, such as cloud-based
offerings and subscriptions, being
propped up by demand or delivery
editor’s question
model. Some security spending will not
be discretionary and the positive trends
cannot be ignored,” said Pingree.
The ongoing shift to a cloud-based
delivery model makes the security
market somewhat more resilient to a
downturn, with an average penetration
of 12% of overall security deployments
cloud-based in 2019, according to
Gartner research. Cloud-based delivery
models have reached well above 50%
of the deployments in markets such as
secure email and web gateways.
Networking security equipment including
firewall equipment and intrusion
detection and prevention systems
(IDPS) will be most severely impacted
by spending cuts this year. Consumer
spending on security software is also
forecast to decline in 2020.
www.intelligentciso.com | Issue 27
27