“A successful cyberattack can threaten a company’s existence, which is why every company should protect itself and ramp up its IT security. But public administrations and authorities also need to constantly review and adjust their IT security,” says Bitkom CEO Udo Littke. “Every euro invested in IT security pays off. According to the Bitkom economic protection study, German companies recently suffered annual losses of 267 billion euros due to sabotage, espionage and data theft, of which around 179 billion euros were caused by cyberattacks alone.”
According to IDC, spending on security software is increasing the most this year. It will rise by 17.3 percent to 5.8 billion euros. This is closely followed by expenditure on IT security services, which increased by 11.4% to 4.4 billion euros. Expenditure on IT security hardware is also increasing, although not quite as strongly with growth of 5.2% to around 970 million euros. “We need to create an ecosystem for cyber security in Germany that combines the outstanding offerings of global providers with IT security solutions made in Germany,” says Littke. “At it-sa, companies can get a comprehensive overview of IT security solutions and the latest technologies such as artificial intelligence in the fight against cyberattacks.”
Note on methodology
The market forecasts for the IT security market in Germany and worldwide are based on data from the IT market research company IDC (IDC Worldwide Security Spending Guide – July (V2 2024)).
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Further links
👉 www.bitkom.org
Graphic: Bitkom
