Robust Growth Predicted for German IT Security

Germany’s digital industry association Bitkom predicts that expenditures in the country for IT security will rise from EUR 6.9 billion in 2021 to EUR 10.3 billion in 2025. That’s the main conclusion of a new study published to coincide with the start of the IT security trade fair it-sa in Nuremberg.

Almost half of the money spent on IT security in 2022 – 46 percent or EUR 3.6 billion – will be for services – while software makes up 41 percent or EUR 3.2 billion. Annual growth rates are projected to exceed ten percent.

“Cyberattacks threaten the existence of companies in all sectors,” said the head of Bitcom’s board  of directors, Udo Littke, in a statement. “IT security is necessarily a priority for top management and will be given commensurate personnel and financial resources. All companies need to know how to protect themselves against cyberattacks and computer criminality and minimize potential damage.”