The company forecasts that information security and risk management will grow by more than 12 percent in 2021. Spending in these segments increased by more than 6 percent in 2020.

Gartner says nearly half of the total, roughly $72 billion, will be spent on security services, including consulting, hardware support, and implementation and outsourced services. Significant amounts of money will also be invested in infrastructure protection ($24 billion), network security equipment ($17 billion), and identity access management ($14 billion).

The company believes less than a billion will be spent on cloud security, which it described as the “smallest but fastest growing market segment.”