Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Security Management //


// // //
11:05 AM
Scott Ferguson
Scott Ferguson
News Analysis-Security Now

Global Security Spending Will Top $96B in 2018 Report

Gartner is predicting that worldwide spending on security will increase 8% between 2017 and 2018 to reach $96 billion. New regulations, such as the GDPR in Europe, are forcing enterprises to spend more.

New regulations, such as the European Union's General Data Protection Regulation law, are forcing enterprises to spend more of their IT budgets on security, which could push the overall market past $96 billion next year, according to new numbers from Gartner.

Overall, the analyst firm sees security spending increasing about 7% between this year and the end of 2018, the December 7 report found. Security spending is expected to top $89 billion by the end of 2017, before jumping to $96 billion by the end of next year.

While a number of high-profile cyber attacks, such as the recently disclosed Equifax breach or Uber's disclosure that millions of personal records were stolen, are a large driver, Gartner found that new government regulations are also pushing businesses to spend more on security. (See Uber Loses Customer Data: Customers Yawn & Keep Riding.)

(Source: Pixabay)
(Source: Pixabay)

In addition to the GDPR -- which will come into effect in May 2018 and will not only dictate issues of personal privacy, but also control what personal data can travel outside the EU -- Gartner cited other laws such as the Health Insurance Portability and Accountability Act (HIPAA) in the US and the new Cybersecurity Law in China as major drivers of security spending.

In order to meet these standards, enterprises are spending more on data security tools, privileged access management and security information and event management (SIEM).

Still, the looming issue of a breach remains the number one motivator of security spending, with 53% of businesses citing that as their top risk between this year and the next, and the reason why they plan to spend more.

"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 three years," Gartner Research Director Ruggero Contu noted in Thursday's report.

Over the next five years, enterprises and their chief information security officers (CISOs) will put more emphasis on detection and response, which will also shift security spending, Contu added.

In addition, the report found that businesses continue to struggle with finding enough employees with the right combination of security skills. This is forcing enterprises to either outsource more and more of their security needs or to turn to technologies such as automation to help bridge the gap. (See Unknown Document 736875.)

"In 2018, spending on security outsourcing services will total $18.5 billion, an 11 percent increase from 2017. The IT outsourcing segment is the second-largest security spending segment after consulting," according to Contu.

Overall, enterprises are planning to spend most of their budget on security services. That category is expected to increase from a little over $53 billion in 2017 to $57 billion by the end of 2018.

Enterprises are also expected to spend more on infrastructure protection -- $17 billion -- and networking security equipment -- $11 billion -- by the end of 2018.

Related posts:

— Scott Ferguson, Editor, Enterprise Cloud News. Follow him on Twitter @sferguson_LR.

Comment  | 
Print  | 
More Insights
Newest First  |  Oldest First  |  Threaded View
I Smell a RAT! New Cybersecurity Threats for the Crypto Industry
David Trepp, Partner, IT Assurance with accounting and advisory firm BPM LLP,  7/9/2021
Attacks on Kaseya Servers Led to Ransomware in Less Than 2 Hours
Robert Lemos, Contributing Writer,  7/7/2021
It's in the Game (but It Shouldn't Be)
Tal Memran, Cybersecurity Expert, CYE,  7/9/2021
Register for Dark Reading Newsletters
White Papers
Current Issue
Everything You Need to Know About DNS Attacks
It's important to understand DNS, potential attacks against it, and the tools and techniques required to defend DNS infrastructure. This report answers all the questions you were afraid to ask. Domain Name Service (DNS) is a critical part of any organization's digital infrastructure, but it's also one of the least understood. DNS is designed to be invisible to business professionals, IT stakeholders, and many security professionals, but DNS's threat surface is large and widely targeted. Attackers are causing a great deal of damage with an array of attacks such as denial of service, DNS cache poisoning, DNS hijackin, DNS tunneling, and DNS dangling. They are using DNS infrastructure to take control of inbound and outbound communications and preventing users from accessing the applications they are looking for. To stop attacks on DNS, security teams need to shore up the organization's security hygiene around DNS infrastructure, implement controls such as DNSSEC, and monitor DNS traffic
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
PUBLISHED: 2023-05-26
Craft is a CMS for creating custom digital experiences. Cross site scripting (XSS) can be triggered by review volumes. This issue has been fixed in version 4.4.7.
PUBLISHED: 2023-05-26
Django-SES is a drop-in mail backend for Django. The django_ses library implements a mail backend for Django using AWS Simple Email Service. The library exports the `SESEventWebhookView class` intended to receive signed requests from AWS to handle email bounces, subscriptions, etc. These requests ar...
PUBLISHED: 2023-05-26
Highlight is an open source, full-stack monitoring platform. Highlight may record passwords on customer deployments when a password html input is switched to `type="text"` via a javascript "Show Password" button. This differs from the expected behavior which always obfuscates `ty...
PUBLISHED: 2023-05-26
Craft is a CMS for creating custom digital experiences on the web.The platform does not filter input and encode output in Quick Post validation error message, which can deliver an XSS payload. Old CVE fixed the XSS in label HTML but didn’t fix it when clicking save. This issue was...
PUBLISHED: 2023-05-26
GDSDB infinite loop in Wireshark 4.0.0 to 4.0.5 and 3.6.0 to 3.6.13 allows denial of service via packet injection or crafted capture file