Meta Group predicts an increase in IT security spending

Although Meta Group predicts 5% decline in overall IT spending for 2003, information security is emerging as a top priority for CIOs.

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By  Greg Wilson Published  November 3, 2002

Regardless of the widely reported slowdown in IT spending, corporate companies are still investing in IT security. According to Meta Group’s Worldwide IT Benchmark Report there is likely to be a overall 5% decrease in corporate IT spending during 2003. However, chief information officers are likely to incrementally increase IT security spending.

In November 2001, 67% of respondents spent 0 to 5% of their IT budget on security and 33% spent 5% or more.

During 2003, Meta Group predicts the trend to continue with a projected 55% of companies moving into the 5%+ category by year's end.

"After September 11th, IT security focused primarily on backup and recovery rather than implementing firewalls or authentication applications," says Meta Group vice president and lead security analyst, Tom Scholtz.

“Now, because of cyber-terrorism threats, CIOs are investing in more protective security software like intrusion detection applications,” he adds.

Developing a comprehensive security and privacy architecture has become a focus for virtually all public-sector CIOs, even though most of their non-IT colleagues do not share the same sense of urgency.

“CIOs find themselves operating with limited IT budgets and are working to make the most out of past investments,” says Meta Group executive vice president and author of the report, Dr. Howard Rubin.

“Still, as recent events have heightened awareness of exposure to internal and external security threats, finding room in the budget for a security architecture is imperative. Because of this predicament, the current security spending numbers will continue to trend upward,” he adds.

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