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AsPac govts spending heavily on digital security
The Philippine Star
|April 05, 2024
As state agencies fall victim to cyber attacks, the public sector in Asia Pacific, including in the Philippines, is investing at least $7 billion this year for the upgrade of digital defenses.
In a forecast, International Data Corp.
(IDC) said cybersecurity spending in Asia Pacific should amount to $36 billion in 2024, an increase of 12 percent from last year.
The growth estimate for 2024 reflects the five-year projection that cybersecurity investments in the region will grow by an average of 13 percent annually between 2022 and 2027.
Ultimately, the IDC anticipates spending on security hardware, services and software to balloon to $52 billion by 2027.
The IDC believes that cybersecurity investments will be prioritized these days to minimize the risks of digital attacks.
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