Growth corresponds with a greater reliance on public cloud services.
Businesses are expected to spend $12.6 billion on cloud security tools by 2023, up from $5.6 billion in 2018 and with an especially close focus on public cloud native platform security, Forrester reports.
The data comes from its “Cloud Security Solutions Forecast, 2018 to 2023,” which investigates the ways companies will invest in cloud security tools over the next five years. This global increase in cloud security spend aligns with a broader trend toward cloud spend overall: Researchers report public cloud services spend will reach $236 billion by 2020, up from $178 billion spent in 2018.
