TECH SUPPLIER Dec 2019 - Market Forecast - Doc # CA44500719

Canadian IT Security Hardware, Software, Services, and Cloud Forecast, 2019–2023

By: Kevin LonerganResearch Manager, Security and Infrastructure

Abstract

This IDC study forecasts all IT security markets in Canada, including hardware, software, SaaS, and security services, down to the subfunctional level as defined in IDC's Worldwide Security Products Taxonomy, 2018 (IDC #US43535614, February 2018). Significant changes were made to the taxonomy for 2018, which are outlined in the Market Definition section. This document is the sixth in a series of yearly security forecasts that are published by IDC Canada. The security market was worth $3.0 billion in 2018 and is expected to reach approximately $4.3 billion by 2023, growing with a five-year CAGR of 7.6%.

"Digital transformation continues to fuel the IT security product market in Canada as organizations adopt more technology to secure a growing attack surface," says Kevin Lonergan, research manager, IDC Canada. "Additional vendors and technologies increase complexity while reducing integration, causing many Canadian organizations to adopt security services, which will outpace growth in software and hardware over the forecast period."


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