Security Spending Continues to Rise

Wednesday, August 10, 2016 @ 03:08 PM gHale

Worldwide spending on information security products and services will reach $81.6 billion in 2016, a 7.9 percent hike over last year, a new report said.

Consulting and IT outsourcing are currently the largest categories of spending on information security, according to the report from Gartner.

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Preventive security will continue to show strong growth. 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 the SWG market will maintain its growth of 5 to 10 percent through 2020 as organizations focus on detection and response.

Security spending will become increasingly service-driven as organizations continue to face staffing and talent shortages, the report said. 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. This is particularly true for targeted advanced threats and insider threats. With more MDR providers emerging targeting the midmarket, Gartner foresees these services being an additional driver for security spending for large and smaller organizations.

Other findings include:
• Average selling price for firewalls is expected to increase by at least 2 or 3 percent year over year until the end of 2018
• 90 percent of organizations will implement at least one form of integrated data loss prevention (DLP), by 2018, up from 50 percent today
• Public cloud adoption will impact firewall spending by less than 10 percent until the end of 2019 but will have an impact after that
• Half of midsize and large organizations will add bigger, more advanced inspection-oriented features to their network firewalls by 2019

Click here for more information on the report.

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