Global Information Security Spending to reach $86.4B by 2017
By MYBRANDBOOK
The rapid growth of digital transformation is putting pressures on companies across all industries to proactively invest in security to protect themselves against known and unknown threats and to neutralize the threats and comply with new regulations, organizations are increasingly looking to highly trained information security professionals for answers. Else, the potential negative impact on their business could be enormous.
“You can’t protect everything equally…we have to find a way to control only what matters,” said Earl Perkins, research vice president. In fact, security experts should know four things: you can’t fix everything, you can’t make assets fully secure, you can’t know how secure they all are, and you can’t know how secure your digital partners are.
Worldwide spending on information security products and services to reach $86.4 billion in 2017, an increase of 7 percent over 2016, with spending expected to grow to $93 billion in 2018, according to the latest forecast by Gartner, Inc.
Gartner also forecasted on the fast growth in the security testing market , due to continued data breaches and growing demands for application security testing as part of DevOps. Spending on emerging application security testing tools, particularly interactive application security testing (IAST), will contribute to the growth of this segment through 2021.
Security services will continue to be the fastest growing segment, especially IT outsourcing, consulting and implementation services. However, hardware support services will see a slow growth, due to the adoption of virtual appliances, public cloud and software as a service (SaaS) editions of security solutions, which reduces the need for attached hardware support overall.
Rising awareness among CEOs and key stake holders in the organisation on the business impact of security incidents and an evolving regulatory landscape have led to continued spending on security products and services to maintain the security hygiene threat-centric vulnerability management, centralised log management, internal network segmentation, back-ups and system hardening ,” said Deshpande, principal research analyst, Gartner.
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