The information security and risk management technology and services spend in Australia is set to increase by 7.3% to reach AU$5.1 billion in 2021, according to Gartner.
Security services, which includes consulting, hardware support, implementation and outsourced services, is the largest category at AU$3.2 billion. The smallest but fastest growing market segment is cloud security, expected to increase by 38% from last year to AU$20 million.
The strong growth rate reflects continuing demand for remote worker technologies and cloud security, according to Gartner analysts.
Lawrence Pingree, managing research vice president at Gartner, said there are early market signals of growing automation and further adoption of machine learning technologies in support of AI security. “To combat attacks, organisations will extend and standardise threat detection and response activities.”
This year, the worldwide spending on information security and risk management technology and services is forecast to grow 12.4% to reach $150.4 billion.
In the Gartner 2021 CIO Agenda Survey, cybersecurity was the top priority for new spending, with 61% of the more than 2000 CIOs surveyed increasing…
