Market for IT security breaks revenue records

Further growth of 9.3 percent to EUR 5.7 billion is forecast for 2021. This is shown by calculations by the market researchers at IDC on behalf of the digital association Bitkom.

"Businesses and government agencies need to arm themselves against a massive increase in cyberattacks. Anything that has an IP address can potentially be attacked and needs to be protected"says Susanne Dehmel, member of the Bitkom management board.

"The demand for IT security solutions and consulting slowed only slightly during the Corona crisis. Without the pandemic, the market would have grown even more strongly. Spending on IT security will continue to rise in the future."

At 55 percent, services account for by far the largest share of the overall market. Expenditure is expected to amount to 2.8 billion euros in 2020, an increase of 6.8 percent. 1.6 billion will be spent on IT security software in Germany in the current year, 3.8 percent more than in the previous year. 750 million euros will be spent on devices and hardware (up 4.9 percent).

"It's no longer enough for IT departments alone to take care of cybersecurity", according to Dehmel.

"Cyber defense must become a matter for the top management. Only upper management can establish the priority of IT security, create appropriate structures and release necessary budgets."