Cloud security spending to grow by 33% to reach $538 mn in 2020

While IT spending is predicted to decline by 8% in 2020, cybersecurity is predicted to grow by 2.4%, comprising 51.9% of the total market. 89% of all cybersecurity spending will be concentrated in these 5 markets – security services, infra protection, network security equipment, and consumer security. Cloud security spend is expected to see the fastest growth; 33% from $439M market size last year, becoming a $538M market this year.

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