New ABI Research data has forecast global cybersecurity spending will reach $100 billion by 2020 as governments intensify efforts to protect their financial, energy and defense infrastructures against a constantly evolving threat landscape.
The market analyst said Tuesday North America and Europe will continue to lead the cyber investment per region, with banks and information and communications technology subsectors enjoying priority.
The report indicated that while healthcare and public security would stand to benefit from high IT spending, other sectors such as utilities might be overlooked.
“Information technology spending will dominate cybersecurity investment for critical infrastructure protection to the detriment of securing operational technologies as found in industrial settings,” said Michela Menting, cybersecurity practice director at ABI Research.
The Critical Infrastructure Security report is part of a larger ABI Research market research on strategies to consider in the deployment of cybersecurity technologies.