Gartner predicts that investments in security and risk management will remain positive in 2020

Gartner predicts that investments in security and risk management will remain positive in 2020

Short-term demands in relation to cloud security offerings and due to the expansion of remote work will increase in the market

According to the latest study by Gartner, Inc., a world leader in business research and advice, global investments in information security and risk management technology and services will continue to grow in 2020, but at a lower rate than previously predicted.

Investments in information security are expected to grow by 2.4%, reaching US$ 123.8 billion in 2020. This is below the 8.7% growth that Gartner projected in the December 2019 assessment. The coronavirus pandemic is driving short-term demand in areas such as adoption of Cloud services, remote working technologies and cost reduction measures.

"Like other IT segments, we expect security to be negatively impacted by crisis of COVID-19"says Lawrence Pingree, Vice President of Research at Gartner." Overall, we expect a break and a slowdown in growth in security software and services during 2020 ".

“However, there are some factors in favor of some segments of the security market, such as cloud-based offers and subscriptions, which are being supported by the demand or delivery model relevant to the moment. Some investments with security will not be discretionary and the positive trends they cannot be ignored, ”he says.

Security investments worldwide by segment, 2019-2020 (in millions of dollars)

Due to rounding, some numbers may not exactly match the totals shown.

Source: Gartner (June 2020)

 The ongoing move to a Cloud-based delivery model makes the security market a little more resilient to a crisis, with an average share of 12% of overall security implementations in the Cloud model in 2019, according to a Gartner survey. Cloud delivery models have reached well over 50% of implementations in markets such as secure email and web gateways.

Network security equipment, including firewall equipment and intrusion detection and prevention systems (IDPS), will be most severely affected by spending cuts this year. Consumer spending on security software is also expected to decline in 2020.