Cyber investments on pace to reach $215B in 2024: Gartner
The firm expects security services, the industry's largest segment, to account for 42% of all spending and rise 11% to $90 billion next year.
What is the projected spending on cybersecurity in 2024?
Global spending on cybersecurity is projected to reach $215 billion in 2024, marking a 14% increase from 2023.
Which segment will dominate cybersecurity spending?
Security services will dominate cybersecurity spending, accounting for 42% of the total, with an expected rise to $90 billion in 2024.
How has cybersecurity budget allocation changed recently?
Organizations allocated 8% of their technology budgets to cybersecurity in 2023, up from 5% in 2019, reflecting a growing focus on addressing cyber risks.
Cyber investments on pace to reach $215B in 2024: Gartner
published by Reliance Infosystems
Reliance Infosystems Group is a Microsoft Advanced Specialization Partner with Solutions Partner designations in Modern Work, Digital & App Innovation, Infrastructure and Data and AI. The group is championing business transformation for major verticals Across MEA, UK, US and Canada. We are focused on helping enterprise and midsize businesses transform their core operations to become agile, scalable and simplified by leveraging the expansive technology innovations, speed, reduced cost and unparallel flexibility resident in Microsoft Cloud. Our future-geared approach to Microsoft Cloud practices won us both the 2017, 2021 and currently 2024 Microsoft Partner of the Year for Nigeria and Botswana