Infosec spending tipped to reach $86.4bn by the end of 2017

18 Aug 2017

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More and more companies are spending significant amounts on infosec products and services, according to analyst firm Gartner.

Gartner has forecasted a significant increase of 7pc over 2016 in the infosec segment, with worldwide spending expected to reach $86.4bn this year, increasing again to $93bn in 2018.

IT outsourcing, consultation and implementation services are key areas where increased spending will occur, with hardware support budgets dwindling due to the widespread adoption of virtual apps and public cloud.

‘As seen in the recent spate of global security incidents, doing the basics right has never been more important’

Future trends

Future Human

The impact of GDPR has created a spike in interest in infosec, as the strict regulations coming down the line are creating concerns for many businesses. Multinationals are growing anxious as they face the mammoth task of complying with the new EU regulations before May 2018, with many of them implementing data loss prevention strategies, or increasing the capabilities of existing plans.

Software-as-a-service editions of security products have grown in popularity, meaning attached hardware support is no longer a necessity.

Another significant change ahead is the projected bundling of managed security service contracts with other security services and general IT outsourcing products.

The need for customisable packages stems from the pressure businesses are under to design, build and operate a fully-equipped security programme in a tight timeframe.

Businesses are set to see a much more varied range of bundled service options in the coming years, with Gartner predicting 40pc of all MSS contracts being sold in bundles by 2020, up from 20pc at present.

Principal researcher at Gartner, Sid Deshpande, explained that increasing spend on new technologies alone won’t cut the mustard, as this can cause companies to sometimes neglect the foundations of their infosec strategy.

“As seen in the recent spate of global security incidents, doing the basics right has never been more important. Organisations can improve their security posture significantly just by addressing basic security and risk related hygiene elements like threat-centric vulnerability management, centralised log management, internal network segmentation, backups and system hardening.”

Ellen Tannam was a journalist with Silicon Republic, covering all manner of business and tech subjects