The Cybersecurity market will grow in Spain by 7.7% in 2022

The adherence of companies to the new era of digital transformation, together with their urgency to achieve scalability, has increased the need to incorporate new IT architectures into business strategy, especially in terms of cybersecurity. The increase in digital operations of organizations, together with the sophistication of cybercrime, requires companies to adopt a new approach in their cybersecurity policies.

In this regard, and according to the study "State of cybersecurity in companies in Spain," carried out by IDC, the world's leading provider of market intelligence, advice and events for IT markets, sponsored by SEIDOR, a consultancy firm for technological services and solutions, the cybersecurity market in Spain is expected to grow by 7.7% in 2022, reaching 1,749 million euros. Furthermore, by 2025, investment in cybersecurity could exceed the barrier of 2,200 million euros, maintaining similar growth rates close to double digits.

As explained by José Antonio Cano, director of analysis at IDC Spain, "the ever-increasing use of data to improve the user experience and the move towards a data-driven organization raises the need to rethink the cybersecurity strategies of companies, especially taking into account that in 2021 up to 90% of companies in Spain suffered a cyber attack".

For his part, Rubén Mora, SEIDOR's Global CSO/CISO, stated that "at SEIDOR, through our Incident Response Centre (CSIRT), we have spent years helping companies reduce the risk of security incidents, responding to them when required in all systems, services and infrastructures". The commitment made by SEIDOR to have its own CSIRT exemplifies SEIDOR's commitment not only to the security of the company and its subsidiaries, but also of its customers and partners.

Main sources of investment

Unified threat management (11.8%), systems integration (11.8%) and network and endpoint outsourcing services (10.6%) stand as the main areas of investment for Spanish companies, whose objective is to ensure the digitization process that they are currently undertaking and minimize the impact that the transformation of the workplace has on data management and business processes.

However, these priorities vary depending on the size of the company. Thus, while medium and large companies are focusing their demands on unified threat management, systems integration and network and endpoint outsourcing services, SMEs and micro-SMEs are prioritizing endpoint protection (mobile devices, computers, etc.), what is known as the modern endpoint, especially among the professional services and retail sub-sectors, where endpoint protection is critical.

Exponential growth between 2022 and 2025

The study data suggests that the cybersecurity market in the different production sectors will experience significant growth in the period 2022-2025. Specifically, the public sector, together with the distribution and services sector, will be the areas that will invest the most in cybersecurity, with an annual growth forecast of 8.8%, respectively.

Within these sectors, wholesale will be the field that will cover the largest share of the cybersecurity market in 2025, with an annual growth of 8.6%, followed by retail, with an annual growth of 8.2 %, and professional services, with an annual growth of 7.9%, something that finds its cause in the increase of e-commerce, which has been intensified due to the pandemic.