The company said in a statement that Australia's expenditure would be mainly on security services, including consulting, hardware support, implementation and outsourced services, at almost A$3.2 billion.
The smallest but fastest growing market segment was cloud security, forecast to reach A$20 million, an increase of 38% from 2020.
Gartner said security and risk management spending had increased by 6.4% globally in 2020, with the continuing growth reflecting the growing number of people working from home and cloud security.
“Looking ahead, we’re seeing early market signals of growing automation and further adoption of machine learning technologies in support of AI security.
"To combat attacks, organisations will extend and standardise threat detection and response activities.”
While CIOs had said cyber security was their new spending priority, with 61% of 2000 surveyed tiling this way, Gartner said security services, including consulting, hardware support, implementation and outsourced services would eat up most of the spending in 2021, at almost $72.5 billion worldwide.
Cloud security, particularly cloud access security brokers, was the smallest item on the security budget for 2021.
“The pace of client inquiry indicates that CASB is a popular choice for cloud-using organisations,” said Pingree.
“This is due to the growing popularity of using non-PC devices for interacting with core business processes, which creates security risks that can be mitigated effectively with a CASB. CASBs also enable safer interaction between SaaS applications and unmanaged devices.”
Gartner said integrated risk management technology was also seeing double-digit growth after risks came to light during the pandemic.
“Areas of significant risk driving near-term demand include the advent of new digital products and services and the related health and safety uses, as well as third-party risks such as customer data breaches or supply chain attacks,” Gartner senior research director John Wheeler said.