Alexandra Borgeaud
Research expert covering cybersecurity and tech in Latin America
Security software - statistics & facts
In a global environment characterized by an ever-increasing number of cyberattacks, the need for stronger cybersecurity practices and awareness is being felt more than ever before. This is illustrated by the significant growth experienced by the global security software industry over the past years, one of the most critical segments of the overall information security market.
Security software spending reflects companies’ concerns
The more companies expand their web presence, the higher the risks. Therefore, security software expenditure is a key priority on a company’s security spending list. In particular, the enterprise security software market is expected to increase from around 80 billion U.S. dollars in 2024 to over 132 billion U.S. dollars in 2028. As the software market is migrating increasingly from an on-premises model to a cloud subscription model, cloud-based security solutions, such as defending against malware, are also highly emphasized in an organization’s security budget. In fact, these solutions are seeing the most significant increase in the level of spending compared to other types of security spending. After the coronavirus (COVID-19) determined and accelerated the widespread remote work practice, it is no surprise that companies are taking cloud security as well as identity and access management seriously.Tackling cyberthreats
In 2024, identity threat detection and response (ITDR) was the emerging IT security technology that most global companies already had running. This security procedure allows for the identification, reduction, and response to potential identity-based threats, such as compromised online accounts, leaked passwords, and data breaches. ITDR implementations are built on the principles of zero trust. Just like zero trust dictates, ITDR enhances security by continuously verifying and validating user identities, devices, and access requests, regardless of their location or network. As cyber threats are expected to become more sophisticated and varied, notably due to the growing use of artificial intelligence by hostile actors, tackling them will, without a doubt, require increasingly innovative security solutions and technologies.
