Market analysts at GlobalData have predicted that global cybersecurity spending is set to increase by 58%, reaching $198bn by 2025.
GlobalData claims that an increasingly tense geopolitical landscape and the COVID-19 pandemic has placed the advantage squarely in the hands of threat actors.
Spending will be primarily directed towards software, followed by services and hardware.
“The past few years have shown that no one, not even specialist cybersecurity providers themselves, is safe from attack. Cyber-attacks are frequent and increasingly complex, typically perpetrated by those furthering a geopolitical cause or attackers intent on making money,” argued GlobalData analyst David Bicknell.