According to Canalys, global cybersecurity spending (including enterprise products and services) will grow by 13.2% in 2023, and remains a key growth area for channel partners. Under ideal conditions, total spending in 2023 is expected to reach $223.8 billion, with delivery of cybersecurity services exceeding product shipments. The continuous increase of network threats has prompted enterprises to prioritize increasing investment in network security. As pressure mounts on budget leaders and not all projects will be approved, they must scrutinize spending and focus on the most pressing cybersecurity needs to minimize the risk of non-compliance. Government and business spending will increase, but as economic conditions worsen, input from small businesses will decrease.
In 2023, evolving cyber threats will continue to put pressure on organizations to expand and deepen their cybersecurity defenses, strengthen detection capabilities, and enhance incident handling capabilities. Matthew Ball, principal analyst at Canalys, said, “From an operational, financial and brand perspective, ransomware remains the biggest threat facing businesses. However, the emergence and abuse of generative artificial intelligence models such as ChatGPT will increase cyber risk in 2023.” to another level. This will allow more cybersecurity threat actors to accelerate the creation of malicious code on an industrial scale and increase the frequency and scope of attacks. Organizations are already struggling to deal with current threats and cannot cut back on this because Once their vigilance is let down, they may become vulnerable to cyber threats. Instead, they need to work more closely with their channel partners to make smarter investments.”
Delivery of cybersecurity services (including consulting, outsourcing, deployment, integration, maintenance, and managed services) is projected to grow 14.1% to $144.3 billion in 2023. This will account for 64.5% of the global cybersecurity market share in 2023. Srikara Upadhyaya, research analyst at Canalys, said: “This year, organizations will continue to transform their cybersecurity strategies to improve defense capabilities. Implementing zero trust architectures to address cybersecurity vulnerabilities that have emerged since the COVID-19 pandemic. This will drive more consulting from channel partners Services, and create opportunities to deploy and integrate multiple products from different vendors, while reducing operational complexity through managed services. Overall, more than 90% of cybersecurity product and service spending in 2023 will be through channel partners. “
Shipments of cybersecurity products (including endpoint security, web security, web and email security, data security, rights management, and vulnerability and security analytics) will grow 11.7 percent to $79.5 billion in 2023. This implies strong growth in the technology sector, but at a slower rate compared to 2022. This was a time when businesses increased spending to upgrade existing defenses and introduce new capabilities, particularly cloud, IoT/OT, and identity security. In 2023, the scale of deals will continue to expand. But because more levels of sign-offs are required, the sales cycle is lengthened. It will be even more important for channel partners to conduct risk assessments and demonstrate return on investment. However, due to long-term insufficient investment, the total network security expenditure is still not enough to reverse the network security threat situation.
