Cyber Security  Spending  $ 189 Bn in 2023 :  All Verticals Forecast  

Application Security Spending  :  24.7 percent,  $7.503 billion.

 Cloud Security Spending  : 26.8 percent  $6.688 billion.

Credit : VectorStock

Data Privacy Spending  to grow 16.9 percent to $1.477 billion. Data Security  Spending to grow 14.2 percent to $3.997 billion  in 2023.

Identity Access Management Spending to grow 15.1 percent to $20.746 billion . Infrastructure Protection Spending  to grow 16.1 percent to $31.810 billion in 2023.

Integrated Risk Management Spending  to grow 13.1 percent to $7.034 billion.  Network Security Equipment Spending  to grow 9.7 percent to $20.936 billion . Other Information Security Software  to grow 13.4 percent to $2.305 billion  in 2023.

Security Services Spending  to grow 6.7 percent to $76.468 billion. Consumer Security Software Spending  to grow 8.3 percent to $9.374 billion  in 2023.  

Conclusion -1 Cyber Security Spending to grow 14.3 percent to $169.5 billion  in 2022  vis-a-vis $189  billion with 11.3 percent growth in 2023.

Conclusion 2: Security Services (Consulting, Outsource services etc ) is highest  spending category forecast to  72 Bn in 2022 and 76 Bn in 2023

Conclusion 3: Zero Trust Network Access (ZTNA)  -Highest growing technology in N/W Security over VPN. Expected growth in Spending  of 36% and 31% in 2022 & 2023 respectively  due to increased demand over VPNs. 

Conclusion 4 Multi Cloud Environment poised  increased security risks and  complexity  in    Management  of Multiple Technologies  .Therefore, Cloud Security domain forecasts higher growth in next two years in 2022-23. 

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