Rising cyber threats drive global security spending to $377 billion by 2028

New Delhi: With cyber attacks becoming more frequent and complex, global security spending is projected to experience steady growth, reaching $377 billion by 2028, according to a new report.

The latest forecast from the International Data Corporation (IDC) predicts a 12.2% year-on-year increase in security spending in 2025.

The surge in cyber threats, fueled by advancements in generative AI (GenAI) and artificial intelligence (AI), is pushing organizations worldwide to invest in more sophisticated security measures to enhance their defenses.

The United States and Western Europe will continue to account for more than 70 per cent of global security spending in 2025.

However, all geographic regions are expected to see consistent growth in security spending this year, with the highest increases in Latin America, Central and Eastern Europe, and the Middle East and Africa.

“Growing digital transformation and hiking emerging technology adoption across the Middle East & Africa (MEA) region — especially countries in the Gulf Cooperation Council (GCC) — have pushed the demand significantly for security solutions to face the evolving threat landscapes,” said Eman Elshewy, senior research manager with IDC Data and Analytics.

Security software will be the largest technology group in 2025, representing more than half of the worldwide security market this year, as well as the fastest growing one, with a 14.4 per cent year-on-year growth rate.

The security software market growth will be driven especially by cloud native application protection platform (CNAPP), identity and access management software, and security analytics software growth, reflecting the special focus that companies will put on integrated cyberthreats detection and response around their whole organisational perimeter.

Security services will be the second fastest growing technology group in 2025, driven by the continuous expansion of managed security services, on which organisations of all sizes will continue to increase their focus as a flexible and efficient way to face new security challenges.

Finally, security hardware will rank third, achieving single-digit but steady growth in 2025, said the report. IANS