Futurum Group Report Sees Cybersecurity Spending Reaching $521.7B by 2031

The Futurum Group projects the global cybersecurity market will reach $521.7 billion by 2031 at a 7.6% CAGR (with a bullish $601B/10.1% and bearish $449B/5.0% scenario), identifies highest-growth areas (cloud security, security operations/GRC, data security, application security), and reports survey findings that most organizations expect budget increases, are pursuing vendor consolidation, and are evaluating AI's uncertain but potentially transformative impact on security tooling and budgeting.