Posted on Tuesday, July 15th, 2008 at 9:18 am
Gartner: Security Budgets Growing Slowly
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Gartner Security Summit — The economy may be sluggish and information security may have slipped to a lower priority in many organizations, but security budgets worldwide will increase 8.5 percent this year, mostly thanks to growth in security services, according to new Gartner research presented.
Victor Wheatman, Gartner vice president and research director for security, says although security is not topping budget priorities this year, it’s still a major priority. “Security will always be a priority when there are threats,” says Wheatman
Security services, which were at around $20 million last year, will grow to about $22 million by the end of this year; around $25 million in 2009; and up to $30 million by 2011. There will be a 6.8 percent CAGR of $13.1 billion in total security spending through the year 2012. Gartner predicts a compound annual growth rate of 6.8 percent for overall security spending through 2012.
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