Worldwide Information Security spending will grow 8 percent in 2014

Worldwide spending on information security will reach $71.1 billion in 2014, an increase of 7.9 percent over 2013 according to the latest forecast from Gartner.

According to Gartner, the increasing adoption of mobile, cloud, social and information will drive use of new security technology and services through 2016.

“This Nexus of Forces is impacting security in terms of new vulnerabilities. It is also creating new opportunities to improve effectiveness, particularly as a result of better understanding security threats by using contextual information and other security intelligence,” said Lawrence Pingree, research director, Gartner.

Pingree said that the bigger trend that emerged in 2013 was the democratization of security threats, driven by the easy availability of malicious software and infrastructure that can be used to launch advanced targeted attacks.

“This has led to increased awareness among organizations that would have traditionally treated security as an IT function and a cost center,” added Pingree.

Other trends in the information security market that form assumptions behind Gartner’s latest forecast include: By 2015, roughly 10 percent of overall IT security enterprise product capabilities will be delivered in the cloud; Regulatory pressure will increase in Western Europe and Asia/Pacific from 2014; By year-end 2015, about 30 percent of infrastructure protection products will be purchased as part of a suite offering; By 2018, more than half of organizations will use security services firms that specialize in data protection, security risk management and security infrastructure management to enhance their security postures; and Mobile security will be a higher priority for consumers from 2017 onward.

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