RealNews

Global IT security spend hits $42bn

Buoyed by a tidal wave of computer viruses, security breaches, legal liability and productivity concerns, worldwide IT security spending hit $42bn in 2003. The Western European information security software market accounted for almost $2.5bn of that. The total represents just under five per cent of total IT spending – and slightly less than the $43bn spent on printers and multifunction peripherals last year. However, IDC predicts that IT security spending will grow from 4.8 per cent to seven per cent of overall IT budgets by 2007. IDC also believes that the continuing focus on security bodes well for opportunities within the sector. Corporate concerns with regulatory compliance, spam, worms/viruses, and identity management will help to drive the security software market to achieve more than $5bn in 2008, representing a compound annual growth rate (CAGR) of more than 15 per cent. Full Story

OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.