IT Security Market

Market for IT security to grow by 13 percent in 2022

Expenditure on hardware, software and services in the area of IT security will amount to around 7.8 billion euros in 2022, an increase of 13 percent on the previous year. This was announced by the digital association Bitkom at the opening of the IT security trade fair it-sa in Nuremberg. "Cyberattacks can threaten the existence of companies in all sectors," said Bitkom CEO Udo Littke. "IT security must be a topic for top management and be provided with the appropriate human and financial resources."

Spending on IT security will continue to rise by around ten percent in each of the coming years. For 2023, an increase of ten percent to 8.5 billion euros is expected. In 2024, the German market is expected to grow to 9.4 billion euros, and in the following year, 2025, it will break the ten-billion-euro mark for the first time with 10.3 billion euros. Spending on security software will rise by twelve percent to 3.2 billion euros in the current year. "All companies need to know how they can protect themselves against cyber attacks and computer crime and minimize potential damage," says Littke.