With the state that the world is in, and the growing numbers of hackers and others, it seems certain that information technology security spending will keep growing at a spirited pace.
Gartner expects global IT spending to be up only 2% in 2013 relative to 2012 due to a strong U.S. dollar (this could be as much as 3.5% in constant dollars. But, IT security spending will grow at a 7% compound annual growth rate from now until 2017 reaching $30.1 billion. For medium-sized businesses worldwide, the cost will be $8.5 billion.
This means that the increase in the rate of security spending will be twice the global IT spending growth rate based on the expected IT growth rate of 3%.
This also means that all IT security will remain a priority.
By the end of 2013, the increases by world sector will be:
- +3%Europe, the Middle East and Africa
- +5% North America
- +9% Asia Pacific
- +15% Latin America
And these are only the increases.