Home Tech News World information security spend to hit $81.6b in 2016, Gartner says

World information security spend to hit $81.6b in 2016, Gartner says

World information security spend to hit $81.6b in 2016, Gartner says
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Global spending on information security will reach $81.6 billion this year representing a 7.9% increase from the previous year, latest forecast by Gartner Inc. has revealed.

The forecast reveals that  consulting and IT outsourcing  firms are the largest categories of spending on information security.

According  to Gartner, “preventive security will continue to show strong growth, as many security practitioners continue to have a buying preference for preventive measures.

A mobile phone user looking at the screen of his smartphone
Technology Times file photo shows a mobile phone user looking at the screen of his smartphone

[quote font=”georgia” font_size=”22″ font_style=”italic” align=”left” arrow=”yes”]According to Gartner, “preventive security will continue to show strong growth, as many security practitioners continue to have a buying preference for preventive measures.[/quote]However, solutions such as security information and event management (SIEM) and secure web gateways (SWGs) are evolving to support detection-and-response approaches.”

Gartner expects that the SWG market will maintain its growth of 5 to 10 percent through 2020 as organisations focus on detection and response.

“Organisations are increasingly focusing on detection and response, because taking a preventive approach has not been successful in blocking malicious attacks,” Elizabeth Kim, senior research analyst at Gartner says. “We strongly advise businesses to balance their spending to include both.”

Gertner believes that security spending will become increasingly service-driven as organisations continue to face staffing and talent shortages, and that Managed detection and response (MDR) is emerging, with demand coming from organizations struggling to deploy, manage and use an effective combination of expertise and tools to detect threats, and then bring their environment back to a known good state.

Spending in security markets such as consumer security software, secure email gateways (SEGs) and endpoint protection platforms (EPPs) continues to show constrained growth due to commoditization, Gartner says.

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Success Kafoi Journalist at Technology Times Media. Mobile: 08077671673 email: success.kafoi@technologytimes.ng

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