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Gartner: Security to Remain a Priority, Spending Might Reach $86 Billion in 2016

As the threat landscape evolves, companies need to adopt the latest technologies

Sep 14, 2012 12:19 GMT  ·  By
Gartner says security spending will considerably increase until 2016
   Gartner says security spending will considerably increase until 2016

The economic crisis has taken its toll on many organizations and although there is a certain pressure on IT budgets, security is a priority, and it will probably remain so at least until 2016.

According to experts from information technology research and advisory company Gartner, worldwide spending on security will probably increase by 8.4% this year compared to 2011 when the figures showed around $55 billion (44 billion EUR).

The upwards trend will probably continue at least until 2016 when companies will spend around $86 billion (69 billion EUR) on services, software and network security appliances.

“The security infrastructure market is expected to experience positive growth over the forecast period, despite risks of further economic turbulence,” noted Lawrence Pingree, research director at Gartner.

“Results from the 2012 annual Gartner CIO survey show increased prioritization for security compared with 2011 and results from Gartner budgeting surveys published in June 2012 underline the fact that organizations globally are prioritizing on security budgets.”

The faster-growing segments in security appear to be secure Web gateways, security information and event management (SIEM), cloud-based solutions, and IT outsourcing.

The numbers from the study show that managers might get the money they need to buy these new toys since 45% of them expect an increase in their security budgets. 50% of them say that their budgets will stay the same, the remaining 5% expecting their allowance to decrease this year.

“Although security remains fairly resilient in tough times, the prolonged financial crises seen in the U.S. and Europe have had some impact on IT security spending globally but to a lesser extent for emerging countries, such as Brazil, China and India,” said Ruggero Contu, research director at Gartner.

As the threat landscape evolves, it’s clear that companies will need the latest and best security solutions to keep up, and they’ll not only rely on sophisticated software, but also on the expertise of service providers.