Broker Check

Cyber Security Spending Increase Forecast

February 01, 2021

2020 saw a new high in cyber attacks, with over 12 billion records compromised and ransomware attacks up by 60%. Frequency is expected to continue in 2021. As the economy recovers spending on cyber security will increase.

According to technology analysts at Casalys, in the best case global spending will increase from $54.7 billion in 2020 to over $60 billion. In the worst case with a slow economic recovery spending is still forecast to increase by 6.6%.

The highest rate of spending growth is forecast for web and email security, followed by vulnerability and security analytics, endpoint security and identity access management.

Factors requiring security attention are human error in susceptibility to phishing attacks and misconfiguration of cloud structure. Remote working and learning require attention. Healthcare services continue to be at risk. It should be a busy year.