Security Market Segment LS
Wednesday, 17 June 2020 11:22

Australia lags global spend on security, risk management

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Spending on security and risk management technology and services in Australia and New Zealand is expected to decline this year, bucking the global trend in spending on security which is forecast to grow, according to a new analyst report.

According to the latest report from analyst firm Gartner, in Australia security spending is expected to decline, down 5.6% from A$4.3 billion in 2019 to just over $4 billion this year.

And in New Zealand, a 3.8% decline is forecast, dropping from NZ$635 million to $611 million in 2020.

The spending decline in Australia and New Zealand is in contrast to the global outlook, with worldwide spending on security and risk management technology and services forecast to continue to grow 2.4% in 2020 - down from the 8.7% growth Gartner projected in its December 2019 forecast - and “propped up largely by cloud and remote worker security investments”, according to Gartner.

Gartner says the coronavirus pandemic is driving short-term demand in areas such as cloud adoption, remote worker technologies and cost saving measures.

“Like other segments of IT, we expect security will be negatively impacted by the COVID-19 crisis,” said Lawrence Pingree, managing vice president at Gartner. “Overall we expect a pause and a reduction of growth in both security software and services during 2020.”

“However, there are a few factors in favour of some security market segments, such as cloud-based offerings and subscriptions, being propped up by demand or delivery model. Some security spending will not be discretionary and the positive trends cannot be ignored,” he said.

Gartner says the ongoing shift to a cloud-based delivery model makes the security market somewhat more resilient to a downturn, with an average penetration of 12% of overall security deployments cloud-based in 2019 - and cloud-based delivery models reaching well above 50% of the deployments in markets such as secure email and web gateways.

And networking security equipment including firewall equipment and intrusion detection and prevention systems (IDPS) will be most severely impacted by spending cuts this year. Consumer spending on security software is also forecast to decline in 2020.

 


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Peter Dinham

Peter Dinham - an iTWire treasure is a mentor and coach who volunteers also a writer and much valued founding partner of iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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