Worldwide spending on information security products and services will reach more than $114 billion in 2018, an increase of 12.4 percent from last year, according to the latest forecast from Gartner. In 2019, the market is forecast to grow 8.7 percent to $124 billion.

“Security leaders are striving to help their organizations securely use technology platforms to become more competitive and drive growth for the business,” said Siddharth Deshpande, research director at Gartner. “Persisting skills shortages and regulatory changes like the GDPR are driving continued growth in the security services market.”