Worldwide Cybersecurity Spending Increasing To $170 Billion By 2020

March 9, 2016

The Wall Street Journal Venture Capital Dispatch is the latest to cite research from Gartner, Inc. which reports the world-wide cybersecurity market topped $75 billion in 2015.

“Interest in security technologies is increasingly driven by elements of digital business, particularly cloud, mobile computing and now also the Internet of Things, as well as by the sophisticated and high-impact nature of advanced targeted attacks,” said Elizabeth Kim, research analyst at Gartner.

IT security spending will soar to $101 billion in 2018, and hit $170 billion by 2020, according to a recent story in Investors Business Daily.

The $170 billion forecast comes from a report titled “Cyber Security Market by Solution (IAM, Encryption, DLP, Risk and Compliance Management, IDS/IPS, UTM, Firewall, Antivirus/Antimalware, SIEM, Disaster Recovery, DDOS Mitigation, Web Filtering, and Security Services) – Global Forecast to 2020“, published by researcher Markets and Markets.

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