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CTOnews.com, January 21, the latest Canalys forecasts that global cyber security spending (including enterprise products and services) will grow by 13.2% in 2023, which is still a key area of growth for channel partners. Under ideal conditions, total spending in 2023 is expected to reach $223.8 billion, and deliveries of cyber security services will exceed product shipments. The continuous rise of network threats urges enterprises to give priority to increase investment in network security. Because of the increasing pressure on budget leaders and not all projects will be approved, they must carefully review expenditures and focus on the most urgent cyber security needs to minimize the risk of violations. Government and business spending in this area will increase, but as the economic situation deteriorates, investment from small businesses will decrease.

"ransomware remains the biggest threat to companies from an operational, financial and brand point of view," said Canalys analysts. But the emergence and abuse of generative artificial intelligence models such as ChatGPT will raise network risk to another level in 2023. This will enable more cyber security threats to accelerate the creation of malicious code on an industrial scale and increase the frequency and scope of attacks. Companies are already struggling to deal with the current threat and can no longer cut this spending, because once they let down their guard, they may become vulnerable to cyber threats. Instead, they need to work more closely with channel partners to make smarter investments. "

Tu Yuan PexelsCTOnews.com learned that the delivery of network security services (including consulting, outsourcing, deployment, integration, maintenance and management services) is expected to grow by 14.1% to $144.3 billion in 2023. This will account for 64.5% of the global cyber security market share in 2023. "this year, organizations will continue to transform their cyber security strategies to improve their defense capabilities," said Canalys research analysts. Implement a zero-trust architecture to solve the network security loopholes that have emerged since the COVID-19 epidemic. This will drive channel partners to provide more consulting services and create opportunities to deploy and integrate multiple products from different vendors, while reducing operational complexity through managed services. Overall, in 2023, more than 90% of spending on network security products and services will be done through channel partners. "

Shipments of network security products, including terminal security, network security, network and email security, data security, rights management, and vulnerability and security analysis, will grow by 11.7% to $79.5 billion in 2023. This means strong growth in the technology sector, but growth will slow compared with 2022. At that time, companies increased spending to upgrade existing defenses and introduced new features, especially cloud, IoT / OT, and identity security. The size of the deal will continue to expand in 2023. However, due to the need for more levels of signature, it will extend the sales cycle. It will be more important for channel partners to conduct risk assessment and show return on investment. However, due to the long-term lack of investment, the total expenditure on network security is still not enough to reverse the threat to network security.

Referenc

Investment in network security will grow by 13% in 2023

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