Researchers at Gartner expect worldwide spending on information security products and services to grow another 7.9 percent to $81.6 billion this year, with organizations looking not only to prevent cyber intrusions but also find ways to prevent data loss and recover quickly.
“Organizations are increasingly focusing on detection and response, because taking a preventive approach has not been successful in blocking malicious attacks,” said Elizabeth Kim, senior research analyst at Gartner. “We strongly advise businesses to balance their spending to include both.”
Organizational spending focuses on security consultants and IT outsourcing, according to Gartner, and those areas are only expected to grow further through 2020. Buyers still show a preference for preventive measures, but Gartner reported that security information and event management (SIEM) and secure web gateways (SWGs) have grown to include detect-and-response options.
Erin is the managing editor of Advisen’s Front Page News. She has been covering property-casualty insurance since 2000. Previously, Erin served as editor-in-chief of The Standard, New England’s Insurance Weekly. Erin is based in Boston, Mass. Contact Erin at [email protected].
