IDC: China's cyber security spending is expected to be close to US $28.86 billion by 2026, the highest growth rate in the world.

CTOnews.com March 2 news, IDC released a report today that the total investment in global cyber security in 2022 is $195.51 billion (CTOnews.com note: currently about 1.34 trillion yuan), and is expected to increase to $297.91 billion (currently about 2.05 trillion yuan) in 2026, with a five-year compound growth rate (CAGR) of about 11.9 percent.

In the Chinese market, IDC expects China's cyber security spending to be close to $28.86 billion (currently about 198.268 billion yuan) by 2026, with a five-year compound growth rate of 18.8%, ranking first in the world.

▲ source: Pixabay hardware and software, the report said that Unified threat Management (UTM) will dominate the network security hardware market spending, more than 60% of the hardware spending will go to this market. IDC estimates that China's unified threat management market will spend more than $6 billion (currently about 41.22 billion yuan) by 2026; the information and data security software market is expected to become the largest and fastest-growing secondary market in the overall software market.

IDC said that from the end-user point of view, the government, finance, telecommunications and other industries are still the main spenders in the field of network security, accounting for nearly 60% of the total. In addition, investment in manufacturing and professional services is also growing rapidly in the cyber security market, with a five-year compound growth rate exceeding the industry average.