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European IT Spending To Reach $47B, IDC Reports— European IT security spending will hit $47 billion in 2022, representing a growth of “sustained pace” — 10.8% year-on-year, according to a new IDC spending guide. 

By the end of 2026, the data corporation predicts this figure will surpass $66 billion. 

Security services have the highest growth over the forecast period (2021-2026) and will also represent the biggest spending category, according to IDC. 

Cybersecurity threats were significant prior to the Russia-Ukraine war, but the geopolitical consequences and inflationary pressures have increased risks and shifted enterprises to “increase the focus on short-term emergency plans addressing especially cloud, network, and data security,” said Research Manager Stefano Perini, IDC European Data & Analytics.

European state and local government industries rank among the top sectors of the fastest growing IT spending in 2022 (12.3%). This is closely followed by federal or central government and transportation, which hit just above 11% in IT security spending growth, according to IDC. 

Government organizations are predicted to focus on cybersecurity as threats become more commonplace, and IDC predicts organizations will spend more on cloud migration, remote collaboration, and data security. 

The most significant European IT security spending in 2022 falls on the banking industry, which has increased its focus on cyber defense and spent upwards of $6 billion, according to IDC. Industries to follow are discrete manufacturing and professional services in cybersecurity.

Telecom operators are constantly being judged on their network performance, which is becoming even more important with the deployment of 5G services. But what insight can these metrics provide when viewing the strategy operators have used to deploy those networks? Read more.

Comcast Business and Fortinet are partnering to deliver enterprises a set of secure access service edge (SASE) and SSE solutions designed to better protect distributed workforces using a cloud-delivered approach to security policy enforcement. Read more.

Palo Alto Networks launched Unit 42 managed detection and response (MDR), combining its Cortex extended detection and response (XDR) technology with analysis skills from one of the largest threat intelligence research teams. Read more.

The secure access service edge (SASE) market will exceed $13 billion by 2026, a figure that will be unscathed by geopolitical or economic pressures, according to an updated five-year forecast from Dell’Oro Group. Read more.

True 5G network launches using a standalone (SA) core continue at a snail’s pace due to the industry’s inability to produce compelling use and business cases, according to a recent report from LightCounting Market Research. Read more.

Secure access service edge and SD-WAN confusion is holding those markets back from being pervasive, MEF CTO Pascal Menezes said. Stream now.