Global cybersecurity spending estimated to rise 2.5-5.6% in 2020: Canalys

Cybersecurity spending could grow to $41.9 billion in the worst-case scenario, if IT budgets come under serious pressure

Worldwide cybersecurity spending is estimated to grow 2.5-5.6 per cent in 2020, as threats and vulnerabilities persist for organisations, and the shift to remote working during lockdown makes it important for enterprises to invest in extending perimeter defences, research firm Canalys said on Monday.

Cybersecurity spending could grow by 2.5 per cent to $41.9 billion in the worst-case scenario if IT budgets come under serious pressure assuming the maximum level of negative economic impact and duration of the Covid-19 pandemic.

Canalys forecast that cybersecurity spending could grow 5.6 per cent in its best-case scenario with overall shipment value - covering