Industry news

 

    Analyst: Security spending will grow

    Mon 28-Apr-2008

    Spending on security software will grow in 2008 due to a growing awareness of the damage caused by security breaches, one analyst has said.

    Gartner revealed that the growth will also be fuelled by organisations moving towards an increasingly mobile, remote workforce.

    The new study released by the forecaster predicts that global revenue in the security software industry will reach $1.5 billion (£5.3 billion) this year and will boom year-on-year by more than a tenth (11.1 per cent).

    By 2012, it expects the market to be worth more than $13.1 billion.

    Ruggero Contu, a principal research analyst at Gartner, said: "Organisations are increasingly accepting the need to have a more 'open' connectivity with business third parties."

    "Consequently, assessing third-party security and defining how to securely communicate are becoming critical factors for businesses."

    Meanwhile, a recent survey by IDC also predicts that IT spending in Europe will increase over the coming year as companies move to safeguard their operations.


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