Worldwide user spending on security and risk management tool and projects could reach as high as $214bn (£175bn) in 2024, representing a 14.3% increase on 2023, according to the latest forecast from analyst house Gartner.
With growth in public cloud services showing no signs of abating, it will be the cloud security spending that will push much of this growth, up 24.7% in 2024, for a total value of $7bn, said Gartner.
Much of this will come in areas such as cloud access security broker software (CASB) and cloud workload protection platforms (CWPP), while cloud-based detection and response solutions including endpoint detection and response (EDR) and managed detection and response (MDR) will also see healthy growth.
