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IT

Enterprise security spending to grow 8% y-on-y to USD 96 bln in 2018

Thursday 7 December 2017 | 11:20 CET | News

Worldwide enterprise security spending is forecast to total USD 96.3 billion in 2018, an increase of 8 percent from 2017, according to a research by Gartner. Organisations are spending more on security as a result of regulations, shifting buyer mindset, awareness of emerging threats and the evolution to a digital business strategy. Of the 53 percent of organisations that cited security risks as the No. 1 driver for overall security spending, the highest percentage of respondents said that a security breach is the main security risk influencing their security spending.

As a result, security testing, IT outsourcing and security information and event management (SIEM) will be among the fastest-growing security subsegments driving growth in the infrastructure protection and security services segments. Regulatory compliance and data privacy have been stimulating spending on security during the past three years. Some examples are regulations in the US such as the 'Health Insurance Portability and Accountability Act', 'National Institute of Standards and Technology,' and 'Overseas Citizenship of India,' the 'General Data Protection Regulation' in Europe coming into force on 28 May 2018, as well as the 'Cybersecurity Law' in China that came into effect in June 2016. These regulations translate into increased spending, particularly in data security tools, privileged access management and SIEM.

The research forecasts that by 2020, more than 60 percent of organisations will invest in multiple data security tools such as data loss prevention, encryption and data-centric audit and protections tools, up from approximately 35 percent today. Skills shortages, technical complexity and the threat landscape will continue to drive the move to automation and outsourcing.

Researchers predict that by 2019, total enterprise spending on security outsourcing services will be 75 percent of the spending on security software and hardware products, up from 63 percent in 2016.

Enterprise security budgets are also shifting towards detection and response, and this trend will drive security market growth during the next five years.



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Categories: IT
Countries: World
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+ 7.3%
Orange increased total base y-o-y
France  |  2017 Q2