Security budgets buck flat IT spend trend

Spending on IT security is likely to increase according to a survey by Infosecurity Europe: 55 per cent of the 1,010 respondents expected spending to increase, and 34 per cent expected their spending to remain the same as last year.

Spending on IT security is likely to increase according to a survey by Infosecurity Europe: 55 per cent of the 1,010 respondents expected spending to increase, and 34 per cent expected their spending to remain the same as last year. Only 8 per cent expect minor reductions of less than 5 per cent of last years spending, and 2 per cent expect significant reductions of more than 5 per cent.

This contrasts significantly with overall spending on IT, as 36 per cent of respondents expect minor reductions from last year’s IT spending, and a third expect to see major reductions compared to last year’s IT spending. Some 20 per cent expect overall IT spending to be higher than last year, and 10 per cent expect their overall IT spend to be the same as last year. 
 
“The threat from cyber crime has increased significantly in the past 12 months with predictions of the cost of cyber-crime reaching hundreds of billions of dollars a year and our own research found that 90 per cent of organisations expect security breaches to increase in 2009,” says Tamar Beck, group event director, Infosecurity Europe.

Beck adds: “The economic climate, lack of effective legislation, and under-resourced crime prevention have created a time bomb for cyber crime, cyber terrorism, and cyber activism – all of which are stretching IT departments in the government and commercial sectors. There is still a huge requirement to invest in information security which is resulting in robust budgets for information security, even if overall IT budgets may remain static, or even shrink slightly.”
 
More information:
www.infosec.co.uk

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