European Security Spending is Forecast to Grow at Double Digits in 2024, in Response to Constant Cyberthreats, Says IDC

Milan, March 25, 2024 — According to the Worldwide Security Spending Guide published by International Data Corporation (IDC), European security spending will grow by 12.3% in 2024, marking another year of strong momentum with double-digit growth. Spending in the region is expected to increase at a steady pace throughout the whole 2022-2027 forecast period, reaching $84 billion in 2027. Security thus proves to be a key IT investment area for European organizations, which will have to continue facing the constant threat of cyberattacks, securing hybrid work environments, and ensuring compliance with both national and international regulations (e.g., NIS2 and DORA).