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IT chiefs' purses drained, security budget still safe - report

CIO study finds spending maintained or rising, despite recession

Internet Security Threat Report 2014

Security looks set to be one part of companies' IT budgets that will be comparatively safeguarded in the recession, if the beancounters at Gartner are to be believed.

Global spending is forecast to rise more than 8 per cent this year to $60bn, reaching $86bn by 2016.

Gartner research director Lawrence Pingree said that based on its CIO spending survey in June businesses are clearly "prioritising on security budgets"

"The security infrastructure market is expected to experience positive growth over the forecast period, despite risks of further economic turbulence," he said.

Security services and security software will lead the growth stakes driven by the "persistent threat landscape…and evolving attack patterns that are growing in sophistication".

Roughly 45 per cent of CIOs surveyed told Gartner they would plough more cash into security; one half expected to at least maintain budgets; and just 5 per cent planned to spend less.

Based on its findings, Gartner reckons the economic meltdown in the US and Europe has had "some impact" on companies' security buying habits in those regions, unlike firms in emerging countries.

"We expect current market trends will keep security infrastructure growth at between 9 per cent and 11 per cent from 2011 through 2013, but we are factoring in a higher degree of caution in terms of buying behaviour," said Pingree. ®

Internet Security Threat Report 2014

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