Eleven Billion Euros in Cyber Security
As the threat of cyber-attacks increases, Germany is investing more in IT security. This year, the ten-billion-euro mark will be exceeded for the first time. This means that the German IT security market is also growing very strongly in an international comparison. The global market is growing by 12.1 percent to 222.6 billion euros. This was announced by the digital association Bitkom on the basis of data from the market research institute IDC.
"A successful cyber attack can threaten a company's existence, which is why every company should protect itself and increase its IT security. But public administrations and authorities must also constantly check and adapt their IT security," says Bitkom CEO Udo Littke. "Every euro invested in IT security pays off. According to the Bitkom Economic Protection Study, German companies recently suffered an annual loss of 267 billion euros due to sabotage, espionage and data theft, of which around 179 billion euros were caused by cyber attacks alone."
protect their company and improve its IT security."
Udo Littke, Chief Executive Officer, Bitkom
According to IDC, spending on security software will increase the most this year. It will grow by 17.3 percent to 5.8 billion EUR. Spending on IT security services will follow closely behind with an increase of 11.4 percent to 4.4 billion EUR. Spending on IT security hardware will also increase, albeit not quite as strongly, by 5.2 percent to around 970 million EUR.
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