Security market set to slow in 2020 according to Gartner, except cloud-based offerings –

Security market set to slow in 2020 according to Gartner, except cloud-based offerings - Cybersecurity

Even if the global IT security market should slow down in 2020, Gartner experts still forecast growth of 2.4% for total revenue of $ 123.8 billion. A progression certainly, but if we compare this percentage to the December 2019 projections of 8.7%, the market will have lost growth potential of 6.3%. Optimistic forecasts have shattered, pulverized by the onset of the health crisis. Because while it has boosted demand in the short term in areas such as cloud adoption and mobility and teleworking technologies, it has also prompted cost-cutting measures.

The forecasts for the rest of the year are therefore downward and the prospect of a market restart, this obsession, often rehearsed and hoped to “return to the level of before”, seems to be receding like a mirage on the horizon. “Like other segments of IT, we expect security to be affected by the Covid-19 crisis,” said Lawrence Pingree, Gartner executive vice president. Overall, we anticipate a pause and a reduction in the growth of software and security services in the year 2020 “.

Certain segments pull the market

However, the picture is not all that bad, some segments will continue to attract buyers, such as the cloud-based model. “There are a few factors that favor certain segments of the security market, such as cloud-based offerings and subscriptions, which are supported by demand or delivery model. Certain security spending will not be discretionary and positive trends cannot be ignored, ”reassures Lawrence Pingree.

The current shift to a cloud service delivery model makes the security market somewhat more resilient to the downturn. Insensitive to the crisis, the cloud segment is expected to grow 33.3% in 2020. Last year, the average cloud penetration rate reached 12% of global security deployments, according to a study by Gartner. With clearly growing segments, such as cloud-based delivery models, such as secure email and web gateways.

Security market set to slow in 2020 according to Gartner, except cloud-based offerings -

In fact, network security equipment, including firewalls and intrusion detection and prevention systems (IDPS), will be the most affected by spending reductions this year – 12.6% believes the Gartner. Consumer spending on security software is expected to stagnate in 2020 at a rate of -0.3%.

Security market set to slow in 2020 according to Gartner, except cloud-based offerings -
Source: itsocial.fr
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