In 2024, about **** percent of companies spent between five and ten percent of their total IT budget on IT security. ** percent of companies spent between 10 and 20 percent.

For the fiscal year 2024, the estimated cybersecurity spending of the Department of Homeland Security (DHS) was more than three billion U.S. dollars, making it the largest budget among the CFO act government agencies, excluding the Department of Defense. The cybersecurity spending of the Department of Defense (DoD) was not reported since the fiscal year 2022. Overall cybersecurity spending in the United States is projected to increase in 2023 with the total estimated agency cybersecurity funding for that year amounting to 10.46 billion U.S. dollars.

U.S. government and cyber security spending The White House released a National Cyber Strategy in September 2018. The overall increase in cyber security spending strongly correlates with the White House’s plan to increase military spending. However, the DoD is the only department with such a significant increase in cyber security spending in FY 2020; most civilian agencies are preparing for budget cuts. Overall, cyber security spending of the U.S. government on CFO Act and non-CFO Act agencies, excluding the Department of Defense, is projected to increase from 9.84 billion U.S. dollars in FY 2022 to 10.89 billion U.S. dollars in FY 2023.

Cybercrime in the U.S. Representing one of the largest digital populations worldwide, the United States reports a considerable number of cyber attacks each year. According to a 2021 survey, nearly 60 percent of online users in the country had experienced any cyber attack, ranking it the third country worldwide by share of cybercrime. In the most recent reported year, around 294 million internet users in the United States were impacted by incidents of data violation. Network intrusion was the most common type of cyber attack across the country.

On average, companies worldwide allocate at least ** percent of their IT budget to information security. The highest share was distributed in 2020, at **** percent. By 2022, companies allocated approximately **** percent of their IT budget to IT security.

Percentage of enterprises that identified specific main reasons for spending time or money on cyber security measures or related skills training by the North American Industry Classification System (NAICS) and size of enterprise.

IT Security Spending in Government Market Outlook

The global IT security spending in the government market size was valued at USD 50.2 billion in 2023 and is projected to reach USD 125.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 10.6% during the forecast period. The growth of this market is driven by the escalating frequency and sophistication of cyber-attacks targeting government infrastructures worldwide, necessitating substantial investment in advanced security measures.

One significant factor contributing to the growth of the IT security spending in the government market is the increasing adoption of digital transformation initiatives across various government levels. As governments strive to provide more efficient and accessible services to citizens, they are increasingly relying on digital platforms and technologies. However, this digital shift comes with a heightened risk of cyber threats, prompting substantial investment in robust IT security solutions to protect sensitive data and critical infrastructure. Furthermore, the COVID-19 pandemic has accelerated the adoption of remote work and online services within government agencies, further emphasizing the need for enhanced cybersecurity measures.

Another factor driving market growth is the stringent regulatory and compliance requirements imposed by governments globally. Governments are mandated to adhere to various data protection laws and regulations to safeguard citizen data and maintain public trust. These regulations necessitate the implementation of advanced security solutions, such as identity and access management, encryption, and data loss prevention, thereby driving the demand for IT security spending in the government sector. Additionally, increasing awareness of the potential consequences of cyber-attacks, including financial losses, reputational damage, and national security threats, is compelling governments to allocate significant budgets for IT security investments.

The rapid advancements in technology and the evolving threat landscape are also key drivers of market growth. Cyber adversaries are continuously developing sophisticated attack techniques, necessitating the development and deployment of innovative security solutions. Governments are investing in next-generation security technologies, such as artificial intelligence, machine learning, and blockchain, to stay ahead of cyber threats. These technologies enable proactive threat detection, real-time monitoring, and effective incident response, thereby strengthening the overall security posture of government agencies. The increasing focus on modernization and upgrading existing IT security infrastructure is further propelling market growth.

In recent years, IT Security Spending has become a focal point for government agencies worldwide. As cyber threats continue to evolve, governments are recognizing the critical need to allocate substantial budgets towards IT security initiatives. This spending is not just about acquiring the latest technologies but also about building a resilient cybersecurity infrastructure that can withstand sophisticated cyber-attacks. By investing in IT security, governments aim to protect national interests, secure sensitive data, and maintain public trust. The emphasis on IT security spending reflects a broader commitment to safeguarding digital assets and ensuring the continuity of government operations in an increasingly digital world.

Regionally, North America holds a dominant position in the IT security spending in the government market, owing to the presence of technologically advanced countries such as the United States and Canada. The region's strong focus on cybersecurity, coupled with substantial government investments in security infrastructure, drives market growth. Europe is also a significant market, driven by stringent data protection regulations such as the General Data Protection Regulation (GDPR) and increasing cyber threats. The Asia Pacific region is witnessing rapid growth, fueled by the digitalization initiatives of emerging economies like China and India. Latin America and the Middle East & Africa regions are also experiencing increasing IT security spending, driven by the growing awareness of cybersecurity risks and the need to protect critical government assets.

Solution Type Analysis

Identity and Access Management (IAM) is a crucial segment in the IT security spending in the government market. Governments are increasingly recognizing th

For the fiscal year 2025, the government of the United States proposed nearly 13 billion U.S. dollar budget for cybersecurity, representing an increase from the previous fiscal year. These federal resources for cybersecurity are set to support a broad-based cybersecurity strategy for securing the government and enhancing the security of critical infrastructure and essential technologies.

IT Security Spending Market Outlook

The global IT security spending market size was valued at approximately $145 billion in 2023 and is projected to reach over $282 billion by 2032, growing at a robust CAGR of 7.5% during the forecast period. This surge in the market size can primarily be attributed to the increasing frequency and sophistication of cyber threats, which has necessitated heightened investments in IT security infrastructure across various industries. The escalating adoption of cloud-based services and the proliferation of Internet of Things (IoT) devices have further contributed to the expansion of this market, as organizations strive to protect sensitive data against breaches and unauthorized access. Additionally, regulatory requirements and compliance mandates continue to drive businesses towards more robust security solutions, adding further momentum to market growth.

One of the key growth factors propelling the IT security spending market is the rapid digital transformation across industries. As businesses increasingly shift towards digital platforms for operations, customer engagement, and data management, the risk of cyber threats escalates correspondingly. The transition to digital channels has opened new pathways for cyber criminals, necessitating advanced security measures. Another critical driver is the persistent evolution of cyber threats. Cybercriminals are becoming more sophisticated in their methods, leveraging advanced technologies such as artificial intelligence to carry out targeted attacks. This has compelled organizations to continuously upgrade their security frameworks, thereby escalating spending on IT security solutions and services. Furthermore, the rise in remote work environments due to the global pandemic has significantly increased the attack surface, prompting the need for enhanced security measures to protect remote endpoints and networks.

Moreover, regulatory and compliance requirements play a crucial role in driving IT security spending. Governments and industry bodies worldwide have implemented stringent data protection regulations, such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). These regulations mandate organizations to implement robust security measures to safeguard sensitive customer data, leading to increased investments in security solutions. Additionally, insurance companies are increasingly demanding higher security standards from businesses to provide coverage for cyber risks. This has further spurred organizations to allocate more resources towards IT security to meet the compliance demands and mitigate potential financial liabilities arising from data breaches and cyber incidents.

Also, the growing awareness of the potential financial and reputational damage caused by cyber-attacks has compelled organizations to prioritize IT security spending. High-profile data breaches and ransomware attacks have underscored the significance of robust cybersecurity strategies. As a result, organizations are increasingly recognizing IT security as a strategic investment rather than a cost center. The need to protect intellectual property, customer trust, and business continuity has led to a heightened focus on strengthening security infrastructure. Furthermore, the integration of emerging technologies, such as artificial intelligence and machine learning, into security solutions is expected to drive market growth by enabling proactive threat detection and response capabilities.

Component Analysis

In the IT security spending market, the component segment is broadly categorized into solutions and services. Solutions encompass a wide array of security products, such as firewalls, antivirus software, intrusion detection systems, and encryption tools, which form the backbone of an organization's security framework. The demand for comprehensive security solutions is driven by the need to protect increasingly complex IT infrastructures from sophisticated cyber threats. Organizations are investing heavily in solutions that offer real-time threat detection and prevention capabilities, thereby enabling them to respond swiftly to potential attacks. The increasing adoption of advanced security solutions, such as security information and event management (SIEM) systems and unified threat management (UTM) systems, is a testament to the growing emphasis on integrated security strategies.

Services, on the other hand, play a pivotal role in the IT security ecosystem by providing organizations with the expertise and resources needed to design, implement, and maintain effective security strategies. These services encompass

The global market for IT security spending in government is experiencing robust growth, driven by increasing cyber threats, the expanding digital landscape within government agencies, and the rising adoption of cloud-based services and IoT devices. While precise market sizing data for 2025 is unavailable, we can reasonably estimate the market value based on typical industry growth rates. Assuming a conservative Compound Annual Growth Rate (CAGR) of 8% from a hypothetical 2019 market size of $50 billion, the market value could reach approximately $75 Billion by 2025, continuing its upward trajectory throughout the forecast period (2025-2033). Key drivers include the need for robust cybersecurity infrastructure to protect sensitive government data from sophisticated attacks (ransomware, phishing, etc.), compliance mandates enforcing stringent security protocols, and a growing reliance on digital services for citizen engagement and internal operations. Furthermore, the increasing adoption of advanced security solutions like AI-powered threat detection, Zero Trust security architectures, and extended detection and response (XDR) are fueling market expansion. The market is segmented by various factors including deployment models (cloud-based, on-premise), security solutions (network security, endpoint security, data security, cloud security), and geographical regions. Major players such as Check Point Software Technologies, Cisco Systems, Fortinet, and Palo Alto Networks dominate the landscape, continuously innovating and expanding their product offerings to meet the evolving needs of government agencies worldwide. While factors such as budget constraints and skill shortages could potentially restrain growth, the persistent threat of cyberattacks and the critical nature of secure government operations ensure the market's continued expansion throughout the forecast period. The adoption of proactive security measures is becoming essential, leading to substantial government spending in the coming years. Regional disparities in IT security spending will likely persist, with North America and Europe maintaining a significant share, followed by Asia-Pacific and other regions experiencing comparatively faster growth.

Security Spending Market size is estimated to be valued at US$ 187.86 Bn in 2025 and is expected to expand at a CAGR of 8%, reaching US$ 321.96 Bn by 2032.

Average spending on specific measures to prevent or detect cyber security incidents by the North American Industry Classification System (NAICS) and size of enterprise.

According to a survey that was conducted in Japan from June to July 2024, ** percent of companies spent less than ************* Japanese yen of their annual IT budget on security measures. At the same time, ********* of the responding managers stated that their company dedicated more than ********** yen per year to security measures.

This statistic shows distribution of cyber security spending in the United Kingdom (UK) in 2014 and 2015, by sectors. In 2014, it was found that the service sector spent 14 percent of their IT budget on security.

Global spending on information security has been growing from 2017 to 2023, increasing from just under 100 billion U.S. dollars in 2017 to almost *** billion U.S. dollars in 2023. Most spending has concentrated in security services, infrastructure protection, and network security equipment. Spending on security services is expected to reach nearly ** billion U.S. dollars by 2024. Continued growth in global information security market    The information security technology market is forecast to grow in the next few years. By 2030, the worldwide spending on information security is expected to be more than triple that of 2017. Information security refers to the practice of managing access to information, whether that is securing information from unauthorized access, or verifying the identity of those who claim to have authority to access information. The rise of new markets such as the Internet of Things (IoT) is shaping securing trends, creating a shift towards managed security services and other segments of IT security. Worldwide revenue from cloud management and security services is forecast to reach almost ** billion U.S. dollars in 2024, compared to just **** billion in 2015.

According to a July 2022 survey on cyber security conducted at companies across Asia, companies in the Philippines spent over ** percent of their technology budget on cyber security. In contrast, cyber security expenses made up less than **** percent of the tech budget at Malaysian companies.

End-user spending on information security is forecast to grow in the coming years. Network security, in particular, is expected to be the fastest-growing segment in the information security market, while the security software and the security services segments should grow at a relatively steady pace. Overall, the source expects the total information security spending to increase by around ** percent in 2025 compared to 2024.

Global IT Security Spending in Government market size 2025 was XX Million. IT Security Spending in Government Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

According to the source, cloud security was expected to grow by nearly ** percent from 2023 to 2024, making it the fastest growing segment in the IT security market, largely due to the growing demand for cloud solutions as an increasing number of companies migrate to the cloud. Overall, the source expects the total IT security spending to increase **** percent in 2024 compared to 2023.

Cloud Security Statistics: Cloud computing can bring many benefits to companies. However, they are also susceptible to being ruined because of the inability to ensure the proper security of information and privacy protections when using cloud computing. This in turn results in higher costs and potential losses to businesses. We will explore more details regarding Cloud Security Statistics in this report. Cloud adoption has risen dramatically over the last few years. Although many organizations were already in the cloud the COVID-19 outbreak has helped accelerate this transition. With the widespread use of remote work, organizations are required to provide support and essential services to their remote workforce. In the end, more than 90% of companies employ some form of cloud-based infrastructure. In addition, more than three-quarters (76 percent) are using multi-cloud deployments made up of at least two cloud service providers. These cloud environments host crucial applications for business and also protect sensitive customer and company information. With the shift to cloud computing comes an increased necessity to collect Cloud Security Statistics. Cloud-hosted applications need to be secured against attacks and cloud-hosted information must be secured against unauthorized access as per the applicable laws. Cloud environments are in a significant way from the on-prem infrastructure this means that the traditional security tools and methods don't always work when working in the cloud. In the end, many companies are confronted with major issues when it comes to securing their cloud-based infrastructure. Editor’s Choice 60% of global corporate data are stored on the cloud. 94% of businesses globally use one or more cloud computing services. It is estimated that the global Cloud Security Statistics market is projected to expand from $480 billion in 2022 to $2.297 trillion by 2032. With 32 percent, Amazon AWS owns the largest market share in cloud computing. 39% of businesses said they've been the victim of data breaches in their cloud environments. The amount of public money spent on cloud computing services is forecast to hit $597.3 billion by 2023. This will increase by 21.7 percent. 92% of companies have embraced a multi-cloud strategy. The market for cloud-based technology is predicted to reach $ 864 billion in 2025. It is expected to grow at an annual rate of 12.8 percent per year. Global storage of data will be greater than 200 Zettabytes of data by 2025. In 2025, more than 100 zettabytes of data are expected to remain in cloud storage. (Cloudwards) 89% of businesses have a multi-cloud strategy. (Flexera) 71 percent of Americans use cloud storage such as Dropbox as well as iCloud. (Statista) 48% of data from companies is stored in the cloud. (Panda Security) The market for cloud computing by 2020 is $371.4 billion. (Globe Newswire) Spending by end-users worldwide on public cloud services is expected to increase by 23.1 percent in 2021. (Gartner) With 83% of cloud users, security is the most frequent issue in cloud adoption. (Cloudwards) 52% of businesses want cloud-based solutions that include security tools. (Cloudwards)

IT Spending by Investment Banks Market Outlook

The global IT spending by investment banks market size was valued at approximately $53.2 billion in 2023, with a projected increase to $94.1 billion by 2032, reflecting a CAGR of 6.7%. This remarkable growth is driven by the increasing need for advanced technology solutions to streamline operations, enhance risk management, and ensure regulatory compliance within the highly competitive and dynamic financial sector.

The first significant growth factor in this market is the continual advancement in financial technologies (fintech). Investment banks are increasingly leveraging cutting-edge technologies such as artificial intelligence (AI), machine learning (ML), and blockchain to improve operational efficiency and decision-making processes. These technologies help in automating routine tasks, enhancing data analytics capabilities, and providing real-time insights, thereby driving substantial investments in IT infrastructure and software solutions.

Another critical driver is the growing complexity of regulatory requirements. Investment banks face immense pressure to comply with an evolving landscape of financial regulations. To manage compliance efficiently and avoid hefty fines, banks are investing heavily in regulatory technology (RegTech). These investments not only help in monitoring and reporting but also in predictive analytics to foresee potential compliance issues, thus ensuring adherence to stringent regulatory standards.

The rising importance of cybersecurity also plays a pivotal role in driving IT spending. Investment banks handle sensitive financial information, making them prime targets for cyber-attacks. To safeguard against potential breaches and protect client data, banks are allocating substantial budgets to enhance their cybersecurity measures. This includes investments in advanced security software, robust encryption technologies, and comprehensive security protocols to mitigate risks and secure their IT infrastructure.

Capital Ict Spending is increasingly becoming a focal point for investment banks as they strive to enhance their technological capabilities. With the rapid evolution of digital technologies, banks are allocating significant portions of their budgets towards ICT investments. This encompasses a wide range of areas including cloud computing, data analytics, and cybersecurity. The emphasis on Capital Ict Spending is driven by the need to maintain a competitive edge in the market, improve operational efficiencies, and ensure robust data security measures. As investment banks continue to navigate the complexities of the financial landscape, strategic ICT investments are crucial in supporting their growth and transformation initiatives.

Regionally, North America dominates the IT spending by investment banks market, followed by Europe and the Asia Pacific. The high concentration of global financial institutions, coupled with a strong focus on technological innovation and regulatory compliance, drives significant IT investments in these regions. Furthermore, the presence of major technology providers and fintech startups in North America fuels continuous advancements and adoption of cutting-edge IT solutions.

Component Analysis

Breaking down the market by components, the hardware segment involves significant investments in servers, data storage solutions, and networking equipment. Investment banks require robust and scalable hardware infrastructure to support high-frequency trading, large-scale data analytics, and secure transaction processing. Upgrading legacy systems and integrating advanced hardware technologies are crucial for maintaining performance and reliability in their IT operations.

The software segment captures a substantial share of IT spending, encompassing a wide range of applications such as trading platforms, risk management systems, compliance software, and customer relationship management (CRM) tools. Investment banks consistently seek software solutions that offer enhanced functionality, scalability, and integration capabilities. The shift towards cloud-based software solutions also contributes to the growth of this segment, offering flexibility and cost-efficiency.

Services are another pivotal component of IT spending, including consulting, implementation, training, and maintenance services. The complexity of financial IT ecosystems necessitates specialized expertise to ensur

State cybersecurity budgets in the United States are evolving to meet growing threats, with security management and operations as well as strategy, compliance, and privacy emerging as top priorities for 2024. A recent survey reveals that 92 percent of states include these areas in their cybersecurity budgets, highlighting the increasing emphasis on proactive defense measures. Interestingly, while traditional security concerns dominate, only eight percent of states allocated a budget for artificial intelligence in cybersecurity, suggesting a potential gap in emerging technology adoption. Budget allocation and trends The landscape of state cybersecurity budgets is changing rapidly. In 2024, 27 percent of states had a dedicated cybersecurity budget line item established by the agency secretary or chief information officer, a significant increase from 15 percent in 2022. This shift indicates a growing recognition of cybersecurity as a distinct and critical area requiring focused financial attention. Furthermore, 22 percent of states reported budget increases exceeding 10 percent in 2024, reflecting the escalating importance of cyber defense in government spending priorities. Federal initiatives and future focus At the federal level, the U.S. government has proposed a substantial 12.72 billion U.S. dollar budget for cybersecurity in fiscal year 2024, demonstrating a commitment to national digital security. This investment aligns with broader efforts to secure government systems and critical infrastructure. Looking ahead to 2025, state chief information security officers are prioritizing the alignment of cybersecurity initiatives with business objectives, as well as focusing on enterprise identity and access management. These forward-looking strategies suggest a holistic approach to cybersecurity that balances technological defenses with organizational goals and risk management.