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Coronavirus: Cyber security spend to slow in 2020

June 17, 2020

High demand for cyber security services and systems to protect cloud environments and remote workers during the Covid-19 coronavirus pandemic is keeping the sector going, but this is a short-term peak and, in reality, worldwide spending on security and risk management technology will slow this year, according to new statistics gathered by analysts at Gartner.

Back in December 2019, the market-watcher predicted that the cyber security market would grow by 8.7% in 2020, but at the halfway point of the year, it has now revised this down to just 2.4% for a total market value of $123.8bn (£97.04bn/€108.4bn).

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