CyberNews Briefs

Cybersecurity: This is how firms are spending their budget this year

IDC has released new projections for security spending practices by European organizations in 2019. According to the forecast, security spending will reach $27.3bn this year and that number will grow steadily in the years after, reaching $33.6bn by 2022.

Services will account for over half of security spending this year ($14.8bn), with the rest going to software ($8.6bn) and hardware ($3.9bn). The bulk of security services spending will go to managed security services ($5.8bn) and integration services ($5.4bn). Larger firms with more than 500 employees will account for about 60% of total spending.

Read more: Cybersecurity: This is how firms are spending their budget this year

OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.