The global information security technology market is expected to grow to $151.2 billion by 2023. In 2019, the market could reach $106.6 billion. This worldwide spending on different security technology products and services is expected to grow thanks to the investment made by institutions and other companies in the market. The International Data Corporation Worldwide Semiannual Security Spending Guide informs that by 2023, the spending on this industry could surpass $150 billion.