Global Cybersecurity spending to reach $377 billion as cyber threats increase

Global cybersecurity spending is expected to rise significantly, reaching $377 billion in 2024, up from $305 billion in the previous year (2023-2024). This sharp increase in expenditure is closely tied to the growing complexity and frequency of cyber threats, which have been further exacerbated by the rise of generative AI. The United States is set to be the largest spender, followed by Western Europe, with these two regions collectively accounting for around 70% of the total cybersecurity investment this year.

For more details, refer to the International Data Corporation.