A new Gartner survey identifies three trends behind global growth in security expenditure. According to its research, the 2023 security and risk management forecast is set to increase by 11.3% to more than $188.3 billion. The press release cites three main factors behind the increase in spending, the increase in remote or hybrid working, the transition to zero trust network access, and the shift to cloud-based delivery. However, looking further into the details reveals ESG, third-party risk, cybersecurity risk, and privacy risk are among the leading categories Gartner forecasts will form an integrated risk management (IRM) market that will see double-digit growth through to 2024. Looking specifically at Data Privacy, Gartner predicts 16.9% growth in 2023 with a total expenditure of $1.447 billion. The rate of growth is up from 10.8% in 2022 and 14.2% in 2021.
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