As companies look for ways to stimulate more innovation and efficiency in their operations, many plan to invest more in technological solutions. As a result, according to a recent PricewaterhouseCoopers report, IT budgets are expected to increase in the coming years.
Data security will likely be one of the main areas of investment. According to the report, 70 percent of surveyed companies plan to invest more in information security solutions, such as antivirus software and endpoint encryption technology, within the next three years.
This comes in the face of a growing number of threats facing businesses. As a recent report from Panda Security showed, the second quarter of 2011 was one of the most dismal on record in terms of data breaches. During that time, several high-profile companies, including Sony, Epsilon and Citi, suffered cyberattacks that exposed the private information of millions of consumers.
“As the role of technology grows, information security is increasingly critical for private companies,” said Ken Esch, a partner at PwC’s Private Company Services. “Risks such as cyberattacks, intellectual property misuse, fraud, and system outages can be managed and reduced with strategic investment in IT security.”
However, as PwC’s report showed, businesses are not only deploying reactive IT solutions, but they are also being proactive. According to the study, 40 percent of surveyed companies plan to invest in cloud computing solutions within the next three years.
The cloud, which has generated significant interest in recent years from companies of all sizes, has proven, in many cases, to be an effective way to reduce IT costs without sacrificing efficiency.
As more companies invest in the cloud and data protection solutions, worldwide IT spending is expected to increase significantly. As a recent report from Gartner showed, IT spending is poised to grow 7.1 percent this year over 2010, reaching more than $3.6 trillion.
Cloud Security from SimplySecurity.com by Trend Micro