Germany is arming itself against cyber attacks and is investing more than ever in IT and cyber security. In the current year, spending is expected to increase by 13,1 percent and, at around 10,5 billion euros, will exceed the 10 billion euro mark for the first time.
The digital association Bitkom reports this based on data from the market research institute IDC. This means that the IT security market in this country is growing faster than in the rest of Europe (plus 12,3 percent to 46,0 billion euros) and in the rest of the world (plus 11,4 percent to 164,8 billion euros). “Cyber attacks are currently one of the biggest threats to the German economy and society. It is all the more important that companies and authorities prepare and take appropriate protective measures. This also includes investments in appropriate hardware and software and a resilient infrastructure. “Against the background of increasing global geopolitical tensions, German companies must be better prepared,” says Bitkom President Dr. Ralf Wintergerst. “In addition to investments, we also need closer cooperation between the authorities and with the economy.”
Cybersecurity spending
The biggest increase this year in Germany is spending on security software, which is expected to increase by 16,9 percent to 5,2 billion euros. Spending on IT security services is also expected to grow strongly by 12,0 percent to 4,4 billion euros. Investments in IT security hardware, on the other hand, will remain almost unchanged (plus 0,4 percent) at around 939 million euros. Further growth in cybersecurity spending is expected in the coming year. The IT security market is then expected to grow by 13,6 percent to 12,0 billion euros, according to Bitkom based on IDC data.
More at Bitkom.org
About Bitkom
The overarching goal of Bitkom is to make Germany a leading digital location, to advance the digital transformation of the German economy and administration, to strengthen digital sovereignty and to achieve broad social participation in digital developments.
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