7 Must-Knows About Security Spending in 2017

1 – Security Spending on the Rise

Worldwide spending on security-related hardware, software and services is expected to reach $90 billion in 2018, up from $73.7 billion in 2016, according to research by IDC.

Photo: Sapience.net

2 – Compliance, Best Practices Drive Security InvestmentSecurity spending to implement security best practices was the second most popular driver for increased spending,

3 – Heavily-Regulated Industries Spend BigSeventy-six percent of organizations in healthcare services are planning to increase security spending while 78 percent of financial services organizations said the same

4 – Network Security, Endpoint Security See Increased SpendingSo not only do network and endpoint security still dominate spending plans, they also appear to be widening the gap with other security categories – despite being ranked least effective, at least in the case of endpoint security.

5 – Barriers to Security Spending RemainComplexity continues to be the top barrier to more aggressive adoption of data security solutions, according to more than half of respondents (50.4 percent).

6 – Most Security Spending Happening Outside U.S.Security spending in Brazil and Germany are set to rise the most. Eighty-five percent of respondents from Brazil said their organizations would increase security spending next year, up from 73 percent last year, and in Germany, 80 percent compared to 63 percent last year.

7 – Encryption, CASB Planned Security Solutions

Respondents said that in terms of the security techniques and solutions they are planning to implement next year, encryption and bring your own encryption key topped the list, with cloud access security broker in second place

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