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Security: Despite Tight Budgets, Spending on Security Continues to Grow
The global security market is expected to reach $67.2 billion in 2013, a jump of 8.7 percent from 2012. By 2016, the size should reach $86 billion. Businesses are spending on average 5 percent of their total IT budgets on information security.
The primary areas of growth within the security sector include:
- Mobile security
- Big Data
- Advanced targeted attacks
Ruggero Contu, Research Director at Gartner, said that “with security being one of the top IT concern areas, the prospect of strong growth is assured. The increases in the complexity and volume of targeted attacks, coupled with the necessity of companies to address regulatory or compliance-related issues continue to support healthy security market growth… Security continues to be a top priority across all technology categories in the SMB market. The rise of midmarket demand presents a new challenge for participants in the security space, as SMB requirements are different from those of larger enterprises. Security buyers from SMBs are increasingly considering security as a service as an alternative for deploying security technologies, particularly in areas like email and web security.”
Lawrence Pingree, Research Director at Gartner, said that “Enterprises should employ a defense-in-depth, layered approach model. Organizations must continue to set the security bar higher, reaching beyond many of the existing security and compliance mandates in order to either prevent or detect these newly emergent attacks and persistent penetration strategies. This layered approach is typical of many enterprise organizations and is often managed in independent ways to accomplish stated security goals, namely, detect, prevent, respond, and eliminate.”
