Global cybersecurity spending is set to grow in 2020, even under a ‘worst-case scenario', according to analyst Canalys.
It expects the overall shipment value, covering endpoint security, network security, web and email security, data security, and vulnerability and security analytics, to range between $41.9bn and $43.1bn this year.
That represents growth of between 2.5 and 5.6 per cent, depending on how events pan out between now and the end of the year.
Cybersecurity "will remain a top priority for most organisations in 2020, as threats and vulnerabilities persist and compliance, regulations and ecosystem requirements strengthen", Canalys stressed.
Web and email security will enjoy growth of between 7.8 and 10.3 per cent, followed closely by vulnerability and security analytics (7.4 and 10 per cent), endpoint security (5.9 and 8.5 per cent) and data security (5.3 and 8.5 per cent).
The one blot on the cybersecurity copybook is network security, which makes up 36 per cent of the market.
Spending here will dip by between 0.9 and 4.7 per cent as customers defocus spending on traditional appliance-based perimeter defences.
Organisations will have to boost spending in other areas of their security stack to address new vulnerabilities created by a more decentralised workforce, Canalys noted. This will incorporate web and email security, data security and vulnerability and security analytics.
In western Europe, the proportion of workers working from home regularly will grow from 12 per cent pre-COVID to 28 per cent post-COVID, according to Canalys' latest predictions.
"The emergence of COVID-19 in January saw a surge in targeted phishing campaigns and malicious domains established to lure end users searching for information," said Ketaki Borade, Canalys research analyst.
"These fell once lockdown took effect. But hackers continue to target organisations and individuals by compromising unsecured and poorly trained remote workers via numerous vectors, including email, social engineering and RDP brute force attacks. Organisations will to have reassess changes to workflows, application use, customer engagement and training for cybersecurity awareness in a more virtual workplace."
Attackers claim to have stolen 100GB of files from Xerox, according to media reports
CPI to hold virtual cybersecurity Deskflix event on Wednesday 8 July, bringing together cybersecurity channel leaders across the European IT industry
But analyst has slashed growth forecast for wider security market
Services firm is targeted by Maze ransomeware which threatens to publish company's stolen files online
MD of Maximity and member of CompTIA, Tracy Pound argues that MSPs will have to make some tough decisions if they want their customers to survive the COVID-19 pandemic
All this talk of a new world order post-COVID hasn’t materialised, argues CPI editor Josh Budd
Firm says demand for services has soared
Market watcher claims distributors logged its best sales growth yet in June but claims the channel is ‘moving into another phase of uncertainty’
Esprinet CEO on plans for €180m-revenue GTI business and refusing to 'quit the race' during a pandemic
Alessando Cattani tells CPI he plans to move GTI and Esprinet staff into a new office in Madrid, and discusses plans to build out business in Portugal