MENA information security spending to hit $1.3bn in 2016; Gartner
Gartner discusses security trends at the Security and Risk Management summit
Analysts at research house Gartner unveiled spending on information security technology and services in the Middle East and North Africa increased by 8% since 2015 and will reach $1.3bn in 2016.
Gartner explained the increased awareness of the impact security incidents have on organisations, and which are the driving force to refocus their security strategy on detection and response approaches.
Greg Young, research vice president at Gartner, said: "Enterprises in MENA are the targets of some of the world's most advanced attacks, as well as the highest rate of attacks. Organisations are trying to increase detection, blocking, and advanced defences while faced with limited availability in the security workforce.
"Large organisations in the Middle East and North Africa continue to invest in building out security operations capabilities either in house or by leveraging external services offered by managed security services providers (MSSPs). I'm encouraged by the regional security cooperation as evidenced through standards and CERT coordination."
Gartner recommends that organisations recognise the adoption of cloud and virtual IT and shift their defences to an adaptive security architecture. "Targeted attacks, ransomware, and denial of service attacks are the most relevant threats to enterprises today, however they are enabled by failing patch vulnerabilities and overloading security personnel with alerts," concluded Young.
Gartner also forecasted that by year-end 2018, over 50% of IoT device manufacturers will remain unable to address product threats emanating from weak authentication practices, and that 99.9% of attacks will be based on product vulnerabilities that were known for at least a year. Furthermore, by 2019, 30% of large enterprises will increase their security consulting services spending as they transition into digital business.