Daily Current Affairs 2021 Information security spending to reach $90bn in 2017 | Daily Current Affairs 2021

Information security spending to reach $90bn in 2017

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Global spending on information security is expected to reach $90 billion in 2017 — an increase of 7.6 per cent over 2016 — to top $113 billion by 2020, market research firm Gartner.

According to Gartner, spending on enhancing detection and response capabilities is expected to be a key priority for security buyers through 2020.

“The shift to detection and response approaches spans people, process and technology elements and will drive a majority of security market growth over the next five years,” said Sid Deshpande, principal research analyst at Gartner.

The need to better detect and respond to security incidents has also created new security product segments such as deception, endpoint detection and response (EDR), software-defined segmentation, cloud access security brokers (CASBs) and user and entity behaviour analytics (UEBA).

These new segments are creating net new spending, but are also taking spend away from existing segments such as data security, enterprise protection platform (EPP) network security and security information and event management (SIEM).

The rising number of point solutions in the security market that address detection and response is creating sprawl and manageability issues for chief information security officers (CISOs) and security managers, driving spending for management platforms and services that are better integrated with adjacent markets, the findings showed.

Even preventive security controls, such as firewalls, application security and intrusion prevention systems (IPSs), are being tweaked to provide more intelligence into security operations, analytics and reporting platforms.

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