According to Gartner global security spending will reach $96.3 billion in 2018-- an 8% increase over 2017, driven by regulations, shifting buyer mindset, emerging threats and the evolution to a digital business strategy.
"Overall, a large portion of security spending is driven by an organisation's reaction toward security breaches as more high profile cyberattacks and data breaches affect organisations worldwide," the analyst says. "Cyberattacks such as WannaCry and NotPetya, and most recently the Equifax breach, have a direct effect on security spend, because these types of attacks last up to 3 years."
A 2016 Gartner survey valadates current security buyer behaviour. Of the 53% of organisations citing security risks as the top driver for overall security spending, the highest percentage of respondents say security breaches are the main security risk influencing their security spending. As a result, security testing, outsourcing and security information and event management (SIEM) are the fastest growing security subsegments driving the infrastructure protection and security services segments.
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