Gartner Forecasts Worldwide Security and Risk Management Spending Growth to Slow but Remain Positive in 2020

Information Technology Press Releases Friday June 26, 2020 16:46
Bangkok--26 Jun--PC & Associates Consulting
Short Term Demand for Cloud and Remote Worker Security Props Up Overall Market

Worldwide spending on information security and risk management technology and services will continue to grow through 2020, although at a lower rate than previously forecast, according to Gartner, Inc.     Information security spending is expected to grow 2.4% to reach $123.8 billion in 2020 (see Table 1). This is down from the 8.7% growth Gartner projected in its December 2019 forecast update. The coronavirus pandemic is driving short-term demand in areas such as cloud adoption, remote worker technologies and cost saving measures.

“Like other segments of IT, we expect security will be negatively impacted by the COVID-19 crisis,” said Lawrence Pingree, managing vice president at Gartner. “Overall we expect a pause and a reduction of growth in both security software and services during 2020.”

“However, there are a few factors in favor of some security market segments, such as cloud-based offerings and subscriptions, being propped up by demand or delivery model. Some security spending will not be discretionary and the positive trends cannot be ignored,” he said.     The ongoing shift to a cloud-based delivery model makes the security market somewhat more resilient to a downturn, with an average penetration of 12% of overall security deployments cloud-based in 2019, according to Gartner research. Cloud-based delivery models have reached well above 50% of the deployments in markets such as secure email and web gateways.     Networking security equipment including firewall equipment and intrusion detection and prevention systems (IDPS) will be most severely impacted by spending cuts this year. Consumer spending on security software is also forecast to decline in 2020.

Gartner clients can learn more in the reports “Forecast: Information Security and Risk Management, Worldwide, 2018-2024, 1Q20 Update” and “Forecast Alert: Impact of COVID-19 on the Information Security Software and Services Markets.”

Learn more about how to lead organizations through the disruption of coronavirus in the Gartner coronavirus resource center, a collection of complimentary Gartner research and webinars to help organizations respond, manage and prepare for the rapid spread and global impact of COVID-19.

About Gartner

Gartner, Inc. (NYSE: IT) is the world’s leading research and advisory company and a member of the S&P 500. We equip business leaders with indispensable insights, advice and tools to achieve their mission-critical priorities and build the successful organizations of tomorrow.

Our unmatched combination of expert-led, practitioner-sourced and data-driven research steers clients toward the right decisions on the issues that matter most. We are a trusted advisor and an objective resource for more than 15,000 organizations in more than 100 countries — across all major functions, in every industry and organization size.

To learn more about how we help decision makers fuel the future of business, visit www.gartner.com.

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