China's network security market size will exceed 135 billion yuan!

China's network security market size will exceed 135 billion yuan!

IDC recently released the 2022 V1 Global Cybersecurity Spending Guide. (IDC Worldwide Security Spending Guide) This guide predicts the scale of global cybersecurity IT investment in the next five years (2021-2025) based on market dynamics.

According to IDC data, the total investment in hardware, software and services related to network security is expected to reach US$151.95 billion in 2021, and is expected to increase to US$223.34 billion in 2025, with a five-year compound growth rate (CAGR) of 10.4%.

According to IDC data, China's cybersecurity-related spending is expected to reach $10.26 billion in 2021. It is estimated that by 2025, China's cybersecurity spending will reach $21.46 billion.

During the five-year forecast period from 2021 to 2025, China's cybersecurity-related spending will grow at a compound annual growth rate of 20.5%, ranking first in the world.

From the perspective of industry end users, users in the telecommunications, local governments, and banking industries spend the most on cybersecurity; by 2025, the combined spending of the three will exceed $9.41 billion. Among them, local government and bank spending will grow steadily, and the five-year compound growth rate is expected to exceed 21.0%.

From the perspective of market segments, IDC predicts that by 2025, the scale of IT investment in China's network security hardware market will reach US$9.45 billion, about twice the scale of investment in 2021.

It is worth noting that in the next five years, network security hardware will still be the first-level sub-market with the highest proportion in the network security market, accounting for more than 40.0% of the total. During the five-year forecast period of 2021-2025, the compound growth rate of the network security hardware market will reach 18.4%, and the market prospect is considerable.

In China's network security software market, IDC predicts that in the next five years, this market will become the fastest growing primary sub-market in China's network security market. By 2025, the software market size will reach US$5.90 billion, with a five-year compound growth rate of 23.9%.

China's security service market will grow rapidly at a five-year compound growth rate nearly twice that of the world. IDC predicts that during the five-year forecast period of 2021-2025, the compound annual growth rate of China's network security services market will reach 20.8%, and by 2025, its market size is expected to exceed 6.11 billion US dollars.