However, business continuity and workforce productivity took precedence over security during the COVID-19 outbreak, the company said, adding that spending on cloud infrastructure services grew by 33% to US$142 billion, a rise of US$45 billion over 2019.

Expenditure on cloud software services went up by more than 20% in 2020, with Zoom's revenue growing 300%, with both Microsoft Office 365 and Salesforce reporting double-digit growth.

Canalys said its estimates showed notebook PC shipments also had a record year, growing 17%, and forecast to grow further in 2021. Logitech’s webcam business also achieved record sales, increasing 138% on a trailing four-quarter basis.

“Cyber security must be front and center of digital plans, otherwise there will be a mass extinction of organisations, which will threaten the post-COVID-19 economic recovery,” said Canalys chief analyst Matthew Ball.

“A lapse in focus on cyber security is already having major repercussions, resulting in the escalation of the current data breach crisis and acceleration of ransomware attacks.”

Canalys said the data breaches had reached crisis point in 2020, with more records compromised in just 12 months than in the previous 15 years combined.

"Ransomware attacks surged with tragic consequences, as hospitals were specifically targeted," the company said.

"Several high-profile organisations went out of business in 2020 and surviving organisations had to implement business continuity measures quickly in response to the COVID-19 pandemic or face ruin.

"This was often at the expense of cyber security and bypassed longstanding corporate policies, leaving many exposed to exploitation by highly organised and sophisticated threat actors, as well as other more opportunistic attackers."