Worldwide spending on security is expected to rise to $60 billion in 2012 and reach $86 billion by 2016, according to IT research firm Gartner. Spending was up 8.4% from $55 billion in 2011.
IT outsourcing (managed security services), secure Web gateway (appliance), security information and event management (SIEM) were the fastest growing security segments and the demand for cloud-based security was also impacting a number of key security markets.
“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”, Lawrence Pingree, research director at Gartner said.
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