India-based firm MarketsandMarkets says the 2020 total includes security technologies like data leak prevention, denial of service attack mitigation, and compliance, along with security services.
“MarketsandMarkets expects the global cyber security market to grow from US$106.32 billion in 2015 to US$170.21 billion by 2020, at a compound annual growth rate of 9.8 percent,” MarketsandMarkets said.
Gartner said something similar its latest November figures predicted security spend pegged at $75 billion are reckoned be worth $91 billion by the end of the year. Big G said the security industry will be worth some $116 billion by 2019 with security services including consulting, hardware support, and outsourcing adding a further $73 billion by 2019.
Most of the cash appears to be being spend in North America while significant revenue growth is expected from Latin America and Asia-Pacific regions. The most popular is expected to be managed security services.