New data from the International Data Corporation (IDC) Worldwide Semiannual Security Products Tracker projects double-digit year-over-year growth of the worldwide revenue for security products. The revenue totaled $106.8 billion in 2023, marking a significant increase of 15.6% from 2022 and showing strength across all six product categories.
“Security is a board-level conversation; cyber risk is business risk. Thus, security spending remains strong and carries a certain level of immunity from the negative effects of economic uncertainty. The emergence of GenAI and other AI technologies are contributing to increased budgets for security offerings in 2024,” said Frank Dickson, group vice president of security & Trust at IDC.
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