Worldwide IT spending is projected to total $4.4 trillion in 2022, an increase of 4% from 2021, according to the latest forecast by Gartner, Inc. This year is proving to be one of the noisiest years on record for CIOs, said John-David Lovelock, distinguished research vice president at Gartner. Most of this spending will Cybersecurity Ventures estimates that an increase in cybercrime and the need for digitized businesses and consumers to guard against such crimes will drive up (Statista) Cybersecurity cost predictions. Key Findings: The accelerating pace of 69% of respondents anticipated more cybersecurity spending in 2022. Organizations will spend a collective $188.3 billion on information security and risk management products and services in 2023, according to Gartner. 16. Check Point Softwares 2022 Security Report: Global Cyber Pandemics Magnitude Revealed Cyber Attack Trends: 2022 Security Report uncovers the key cybersecurity trends from 2021, including a supply chain attack frenzy and increased disruption to everyday life. By 2027, spending is projected to increase by a compound annual growth rate of 10% to hit $36.67 billion. Cyberattacks were prevalent and costly in 2021, a trend likely to continue into 2022. Worldwide cybercrime costs will hit $10.5 trillion Gartner, a tech research and advisory firm, estimated that spending on information security will total $172 billion in 2022. Report Overview. Cybersecurity is one of the fastest-growing fields in technology, with global spending increasing by 12% - 15% year-over-year. Feb 16, 2022. Global cyberattacks are expected to intensify this year as digital breaches continue to mount. The market is projected to grow from USD 155.83 billion in 2022 to USD 376.32 billion by 2029, exhibiting a CAGR of 13.4% during the forecast period. According to PwCs 2022 Global Digital Trust Insights report, investments continue to pour into cybersecurity with 69 per cent of responding organisations predicting a rise in their cyber spending for 2022. the ever-increasing interest from the rest of the executive team and the board in This report examines, analyzes, and predicts the evolution of cybersecurity technologies, markets, and outlays (expenditures) over the next 8 years (2022-2030) in the cybersecurity industry. Global X reveals which areas of the investment theme investors should watch out for. Increased cyberattacks should drive continued cybersecurity sales growth. 26% expect related spending PwC's 2022 Global Digital Trust Insights shows that more organizations (66%) are expecting cyber budget growth compared to previous years. The report includes global and regional cybersecurity forecasts for the period 2022 to 2027 by product and solution, managed services, professional services, security type, Among the top cybersecurity areas targeted for increased spending are cloud security, data security, network security, and endpoint security. Worldwide Cybersecurity Spending To Reach $23bn In 2022. Of these companies, over a third project double-digit cyber spending growth. Purpose: The report gives insights on near-term future cybersecurity challenges and develops actionable solutions to address them. IT spending is accelerating in 2022, and cybersecurity initiatives are leading the charge as enterprises race to digitally transform and satisfy heightened customer expectations while simultaneously securing hybrid workforces. According to a study by Juniper Research, global spending on cybersecurity is expected to reach $170 billion by 2022, up from $107 billion in 2018. IT spending is accelerating in 2022, and cybersecurity initiatives are leading the charge as enterprises race to digitally transform and satisfy heightened customer expectations The imperative to protect increasingly digitized businesses, Internet of Things (IoT) devices, and consumers from cybercrime will propel global spending on cybersecurity products The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. Download PDF. In 2021, 37 percent of all businesses and organizations were hit by ransomware. 2022 Cybersecurity Almanac: 100 Facts, Figures, Predictions & Statistics; Cybercrime Costs $10.5 Trillion Annually by 2025, Up from $6 Trillion in 2021; Ransomware Hits Recovering from a ransomware attack cost businesses $1.85 million on average in 2021. Education and Research revealed as the most targeted sector. According to the report: In 2022, enterprises are expected to spend a significantly greater portion of IT budgets on security appliances. Given that 58% of organizations will have moved their application portfolios to a public cloud in the next two years, it says, security teams, while spending a notable amount on By 2025, the According to PwCs Global Digital Trust Insights for 2022 report, 69% of respondents expect cybersecurity-related spending to increase. According to a survey by ABI Research, global cybersecurity expenditure on industrial critical infrastructure like energy and 15 And, moving forward, 69% of companies expect to increase their budgets in 2022. The first Global Cybersecurity Outlook flagship report identifies the trends and analyzes the near-term future According to a survey by ABI Research, global cybersecurity expenditure on industrial critical infrastructure like energy and transportation, including water and waste management, is anticipated to reach $23 billion by the end of the year. The most popular training topics? Cloud security is forecast to be the strongest category for growth in 2023, following a similar market-leading pace of growth in 2022. Gartner predicts organizations will spend nearly Global cyberattacks are expected to intensify this year as digital breaches continue to mount. 1. Share to Linkedin. In fact, enterprises with their bigger attack surfaces are more likely to increase IT spending due to security concerns overall.. Global X reveals which areas of the investment theme investors should watch out for. Global Cybersecurity Outlook 2022: Released by World Economic Forum. The report also highlights measures that need to be taken to enhance cyber resilience within organisations and the wider ecosystem. Did you see the latest insights from our 2022 Global Cybersecurity Awareness Training Study? When it comes to risks, Kamluk also revealed in his presentation that Kaspersky from July 2021 to August 2022 alone, the global cybersecurity company has detected and The global cyber security market was valued at USD 139.77 billion in 2021. 13,14 That cost is one Cybersecurity is one of the fastest-growing fields in technology, with global spending increasing by 12% - 15% year-over-year. Out of In a pool of 1900+ CISOs, security leaders, and IT professionals, 65% agreed that their cybersecurity awareness training programs need expansion. In 2019, spending in the cybersecurity industry reached around $40.8 billion USD. The global healthcare cyber security market size was valued at USD 12.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 18.3% from 2022 to 2030. The global cybersecurity software, services, and systems market is predicted to grow from $240.27 billion in 2022 to $345.38 billion by 2026, attaining a 9.5% CAGR, according There is also a talent gap in this The market analyst claimed that increased geopolitical uncertainty, combined with the COVID-19 pandemic, has created an uneven playing field in favor of threat actors. Global Cybersecurity Outlook 2022. Q: How is your cyber budget changing in 2022 (% of respondents) Source: PwC, "2022 Global Digital Trust Insights," 2022. In 2019, spending in the cybersecurity industry reached around 40.8 billion U.S. dollars, with forecasts suggesting that the market will eclipse 60 billion U.S. dollars by 2021 Large enterprises typically spend $25 million on cybersecurity annually, while a single ransomware breach costs companies $4.62 million on average. The global cybersecurity market grew from $181.12 billion in 2021 to $201.33 billion in 2022 at a compound annual growth rate (CAGR) of 11.2%. Share to Linkedin. In 2021, experts predicted a 12% bump in global cybersecurity spending to around $150 billion. In 2021, 82% of companies increased their cybersecurity budget. In 2022, experts predict that spending will either hold steady or rise. Worldwide cybersecurity spending is set to grow by nearly 58% over the next few years to reach $198bn by 2025, according to GlobalData. 2. To Gartner project double-digit cyber spending growth as digital breaches continue to mount the wider ecosystem of businesses! 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