Cybersecurity mitigation spending has exceeded $150 billion this past year, which is the highest in history.
There is a significant proportion of CIOs who have invested the time and money in making their company's cybersecurity better this year!
According to the latest forecast from market analyst firm Gartner, spending on information security technologies and services will grow by 12.5 percent worldwide to reach $150.4 billion in 2021.
According to Gartner analysts, the strong growth rate reflects the continued demand for teleworking technologies and cloud security.
With predicting the future of artificial intelligence, it looks like automation and machine learning will become an even more significant part of cybersecurity.
To combat cyberattacks, organizations expand their activities and standardize strategies that include threat detection and real-time response.
According to the Gartner 2021 CIO Agenda Survey, cybersecurity was the number one priority for new spending, with 61 percent of the more than 2,000 CIOs surveyed intending to increase their investment in cybersecurity and information security this year.
In 2021, security services, including consulting, hardware support, implementation, and outsourced services, will represent the largest spending category, with nearly $75 billion worldwide.
The integrated rights management (IRM) technology also shows solid double-digit growth, driven by the global pandemic.
The emergence of new digital products, services, and third-party threats such as customer data breaches and supply chain attacks are drastically changing the landscape of today's information security scene.