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  • Gartner Forecasts Worldwide Security Spending Will Reach $96 Billion in 2018, Up 8 Percent from 2017

    2017-12-08 05:53:13.0
    shiva kumar

    Bangalore :Gartner, Inc. forecasts worldwide security spending to total $96.3 billion in 2018, an ...

    Bangalore :Gartner, Inc. forecasts worldwide security spending to total $96.3 billion in 2018, an increase of 8 percent from 2017. Organizations are spending more on security as a result of regulations, shifting buyer mindset, awareness of emerging threats and the evolution to a digital business strategy.
    "Overall, a large portion of security spending is driven by an organization's reaction toward security breaches as more high profile cyberattacks and data breaches affect organizations worldwide," said Ruggero Contu, research director at Gartner. "Cyberattacks such as WannaCry and NotPetya, and most recently the Equifax breach, have a direct effect on security spend, because these types of attacks last up to three years."
    This is validated by Gartner's 2016 security buying behavior survey*. Of the 53 percent of organizations that cited security risks as the No. 1 driver for overall security spending, the highest percentage of respondents said that a security breach is the main security risk influencing their security spending.
    As a result, security testing, IT outsourcing and security information and event management (SIEM) will be among the fastest-growing security sub segments driving growth in the infrastructure protection and security services segments (see Table 1).
    Table 1
    Worldwide Security Spending by Segment, 2016-2018 (Millions of Current Dollars)
    Segment 2016 2017 2018
    Identity Access Management 3,911 4,279 4,695
    Infrastructure Protection 15,156 16,217 17,467
    Network Security Equipment 9,789 10,934 11,669
    Security Services 48,796 53,065 57,719
    Consumer Security Software 4,573 4,637 4,746
    Total 82,225 89,133 96,296

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