Noting that businesses are cautious about general IT spending at the moment, the report projected modest growth in the market for software, services and network security appliances for both businesses and consumers. The security market totalled $55 billion in 2011 and is expected to reach $60 billion in 2012, an 8.4 percent increase. The IT research company anticipated that the trend will continue, with security spending hitting $86 billion in 2016.
This growth stems from the increased prioritization of digital security – particularly as virtualization and mobile adoption prompt the need for expanded cloud security services. Additionally, the evolving nature of threats and increased sophistication of attacks is pushing organizations to invest in security technology and services, Gartner said, even in the face of global economic uncertainties.
"The security infrastructure market is expected to experience positive growth over the forecast period, despite risks of further economic turbulence," explained 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."
Gartner also found that 45 percent of respondents in its most recent survey planned to increase their security budget in 2012, while only 5 percent anticipated a decrease. Increases were more pronounced in many developing economies than in the U.S. and Europe, the study found.
Other studies have also helped explain this trend, including InformationWeek’s 2012 IT Spending Priorities Survey. The analogous report found that 24 percent of IT managers listed security as their top technology initiative. However, its author stressed the importance of treating security as more than just a purchase. To have real value, security must also be a part of company culture, the report said.
InformationWeek found that security spending in areas such as social media and mobile device management was a relatively low priority, despite the ongoing consumerization of IT. As tech-savvy employees continue to introduce unavoidable questions, social and mobile considerations may occupy a more prominent place in security plans and budgets.
Security News from SimplySecurity.com by Trend Micro