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Gartner says IT Security Spending will hit $80bn by 2016 but buyers still wary

Tuesday May 7 2013

Spending on IT security is anticipated to hit $60bn this year and will rise to $86bn by 2016, according to new research from Gartner.

Gartner thinks that despite economic slowdown and tightening IT budgets internationally, security will remain a top priority for businesses. The expected spending of $60bn in 2012 is an 8.4% rise on the $55bn spent in 2011 according to Gartner.

Gartner defines the security infrastructure markets as the software, services and network security appliances used to secure enterprise and also consumer IT.

Cloud-based security is expected to be an area where spending will increase, also security information and event management and managed security services.

Gartner said that just 5% of respondent's to their survey expected to see a decline in their security budget, while 45% expected an increase and the remaining 50% said budgets would remain the same.

Frank Coggrave, General Manager EMEA at Guidance Software said: “We’re definitely seeing a change in security spend, in that the emphasis is now much more focused on Incident Response mitigation, rather than protection. Organisations realise that they cannot stop something from happening, as they will experience a breach or attack at some point, but those that have a response plan in place are in a much better position than those without. In cyber security it definitely is a case of ‘the best defence is a good offense’ and by automating as much as you can of the initial response workflow can help determine what happened, the scope of the breach, and any hidden processes running on questionable machines, in a much faster way.”

Lawrence Pingree, Gartner, said: "The security infrastructure market is expected to experience positive growth over the forecast period, despite risks of further economic turbulence. Results from the 2012 annual Gartner CIO survey show increased prioritisation for security compared with 2011 and results from Gartner budgeting surveys published in June 2012 underline the fact that organisations globally are prioritising on security budgets."