Security Spending to Increase in 15

Wednesday, January 14, 2015 @ 01:01 PM gHale


In the continuing growth of high profile hacks over the past few years, companies are finally seeing the light and planning to spend more on cybersecurity this year, according to a survey.

In total, 75 percent of respondents to the survey of 112 CIOs said they would be spending more on cybersecurity in 2015 than they had in 2014, according to the report by Piper Jaffray. Last year’s survey also recorded a significant number of respondents looking to boost their security spend, but that was 59 percent, so this year’s figures show a bigger increase.

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“CIOs clearly have heightened concerns from the many security breaches that occurred in 2014, resulting in an inflection in overall security spending,” the report said.

The biggest areas of spending were as mobile devices (62 percent), off-premise enterprise software (59 percent) and storage (51 percent). The report also indicated a hesitancy for companies to move to cloud storage, with 35 percent of respondents citing security as the main reason they would prefer to keep things on their own data centers.

Also in the report, 88 percent of CIOs said network security was their top priority for the year ahead, and 78 percent said endpoint security was their main focus. In addition, 37 percent said they planned to use a third party security provider.

These findings echo a report from Gartner in August 2014 that said global security spending would increase by 8.2 percent in 2015 to reach a total spend of $76.9 billion.

Click here to review the Piper Jaffray survey.



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