IDC: Security spending double rate of IT spend
IDC: Security spending double rate of IT spend
Despite more than two years having elapsed since the events of September 11, the ongoing threats caused by hackers and viruses continues to put security at the forefront of IT managers, with analyst group IDC predicting that worldwide spending on security and business continuity will grow at twice the rate of overall IT spending.
In a recent survey conducted by IDC, around 40 percent of the 1,000 IT managers polled placed security at the top of the list in terms of prioritising their IT spend. Security was also the only area where the number of respondents who indicated that spending had increased was greater than those saying it had decreased in the last six months.
"Corporate spending on security and business continuity has been held back by two factors - uncertainty about the severity of risk posed by security threats and ongoing budget austerity," said John F. Gantz, chief research officer and senior vice president at IDC. "However, any scepticism about the potential consequences of a security breach is fading fast as enterprises seek to improve their ability to manage organisational risk."
This focus on improving enterprise security will cause spending on security and business continuity products to surpass US$70 billion (AUD$103 billion) by the end of the year.
While much of this spending will be directed toward immediate security needs, growth will be sustained by the security demands of privacy regulations, including HIPAA and the Gramm-Leach Bliley Act (GLBA). IDC expects spending on hardware, software, and services to be relatively uniform throughout the forecast period.
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