Worldwide Security Spending to Increase 12.1% Over 2022: IDC

Worldwide spending on security systems and services will hit $219 billion in 2023, up 12.1% over 2022, said Worldwide Security Spending Guide from International Data Corp. (IDC). “Investments in hardware, software, and services related to cybersecurity are expected to reach nearly $300 billion in 2026, driven by the ongoing threat of cyberattacks, the demands of providing a secure hybrid work environment and the need to meet data privacy and governance requirements,” IDC said Thursday. "Almost all industries and company size segments will see low double-digit growth through 2026, driven by the expansion of cloud and container deployments, the need to secure remote access to resources and the compliance requirements of privacy and data protection legislation,” said Serena Da Rold, associate research director. The banking and manufacturing sectors, as well as the government, are among those that will drive spending on IT security, IDC said.