Global security spend to jump 8% this year

Increasingly threat-aware companies willing to spend more on security, Gartner says

Tags: Gartner Inc. (www.gartner.com/technology/home.jsp)
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Global security spend to jump 8% this year Security spending will continue to grow at a rate of 8.2% in 2015, reaching $76.9bn, Gartner predicted
By  Tom Paye Published  August 24, 2014

As organisations become increasingly threat-aware, worldwide spending on information security is on pace to reach $7.1bn in 2014, an increase of 7.9% over 2013, according to the latest forecast from Gartner.

Security spending will continue to grow at a rate of 8.2% in 2015, reaching $76.9bn, Gartner predicted. The research house added that the increasing adoption of mobile, cloud, social and information will drive the use of new security technologies and services through to 2016.

"This Nexus of Forces is impacting security in terms of new vulnerabilities," said Gartner research director Lawrence Pingree.

"It is also creating new opportunities to improve effectiveness, particularly as a result of better understanding security threats by using contextual information and other security intelligence."

Pingree added that the bigger trend that emerged in 2013 was the democratisation of security threats, driven by the easy availability of malware and infrastructure via the black market. These readily available kits can be used to launch highly targeted advanced attacks, Gartner warned.

"This has led to increased awareness among organisations that would have traditionally treated security as an IT function and a cost centre," said Pingree.

Gartner also predicted that, by 2015, roughly 10% of security product capabilities would be made available in the cloud. The research house said that this was being driven by the fact that a significant number of security markets are being impacted by newly emerged delivery models. Cloud-based security services, then, are transforming the way security is supplied and consumed, Gartner said.

Another notable prediction made by Garter focused on security outsourcing. The research house said that, by 2018, more than half of organisations will use security services firms that specialise in data protection, security risk management and security infrastructure management. This will be down to the fact that many organisations continue to lack the appropriate skills to define, implement and operate acceptable levels of data protection and privacy-specific security controls, Gartner said.  

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