China to spend USD 7 billion on security solutions in 2019, says IDC

Written by Luna Lin Published on 

China will be the second largest spender after the United States

China’s spending on security solutions is projected to reach USD 7 billion in 2019, making it the second largest spender after the United States, according to a recent report published by marketing analysis consultancy International Data Corporation (IDC).

IDC predicts the compound annual growth rate of China’s security solution spending between 2018 and 2022 to be 25.6%, far outperforming the global growth rate at 9.2% for the same period.

“While the U.S. and Western Europe will deliver two-thirds of the total security spending this year, the largest growth in security spending will be seen in China, Asia/Pacific (excluding Japan and China), and Latin America, each with double-digit CAGRs over the five-year forecast period,” said Karen Massey, a customer insights & analysis research manager at IDC.

The country’s biggest security solutions buyers – central and local governments, the telecoms industry, and the finance industry – account for nearly 60% of the national spending, according to IDC.

Security-related hardware soaks up 61.9% of the country’s security solutions spending. Security-related services and software each account for 21.7% and 16.4% of the total spending.

Editor: Nadine Freischlad


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