Analyst and research house Gartner, Inc., purveyors of the popular Magic Quadrant for SIEM, have released their latest spending forecast for the global information security market.
According to that forecast, the infosec market will grow at an aggressive rate over the next two years, reaching $93B by the close of 2018. Gartner also noted that spending on security products and services will experience a 7% increase this year over 2016, culminating in $86.4B.
Security services is expected to be the fastest growing segment of the infosec market, outpacing consulting, implementation services, and IT outsourcing, but Gartner also projects gains from hardware support services, a fast growing market segment.
Sid Deshpande, principal research analyst at Gartner, said: “Rising awareness among CEOs and boards of directors about the business impact of security incidents and an evolving regulatory landscape have led to continued spending on security products and services.”
He added: “However, improving security is not just about spending on new technologies. As seen in the recent spate of global security incidents, doing the basics right has never been more important. Organisations can improve their security posture significantly just by addressing basic security and risk related hygiene elements like threat centric vulnerability management, centralised log management, internal network segmentation, backups and system hardening.”
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