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Security: Security Budgets Grow as Sophistication of Threats Increase
Gartner defines the security infrastructure market as the software, services and network security appliances that are used to secure IT equipment. The security infrastructure market segment is expected to grow between 9 and 11 percent annual both this year and next. Worldwide spending on security is expected to rise to $60 billion in 2012, up 8.4 percent from $55 billion in 2011. Gartner expects this trajectory to continue, reaching $86 billion in 2016.
Within security infrastructure, the fastest growing industry segments include: IT outsourced security services, secure Web gateway appliances, and security and event management (SIEM).
Gartner finds that 45 percent of businesses are increasing their budget for security while most other companies are keeping their security spending at the same level.
Driving the growth in demand for security infrastructure products is the increase of sophisticated threats. Threats include hacks, malware, phishing, and other software exploits. BlueCoat, a Web security company, for example, estimates that the amount of activity related to malicious sites on the internet increased by 240 percent in 2011.
Tom Cross, director of security research for network security company Lancope, said that “The significance and sophistication of computer security threats is growing with each passing year. Today’s enterprises have to worry not only about widespread malware attacks and hacktivism, but also more stealthy, targeted attacks from various parties including unfriendly nation states and corrupt insiders.”
The following InfoGraphic created by security company F5 show how the nature of security threats has been rapidly changing:
