Organisations to spend $75bn on security this year
The total represents an increase of almost five per cent year-on-year
Worldwide spending on security products will top $75.4bn (49.4bn) in 2015 due to the increase in security threats, increased legislation, identity and access management, IT outsourcing and government initiatives, according to figures published by Gartner.
Spending in some areas of security, including endpoint protection and consumer security it starting to decrease because they have become commodities, said the analyst firm.
Elizabeth Kim, research analyst at Gartner said: "Interest in security technologies is increasingly driven by elements of digital business, particularly cloud, mobile computing and now also the Internet of Things, as well as by the sophisticated and high-impact nature of advanced targeted attacks."
She continued by saying that emerging technologies such as threat intelligence and cloud security tools, such as encryption are a big opportunity for vendors, but the strength of the sectors is not enough to cover for the more mature security told that are losing momentum.
Gartner is now predicting major shifts in the security technology industry. It expects price increases of up to 20 per cent due to the US exchange rate fluctuations to impact organisations, meaning companies may not be able to afford to implement new security infrastructure. However, stabilisation of the market in 2016 will mean companies will delay purchases rather than forgo them altogether.
The research firm thinks the enterprise content-aware data loss prevention market will slow between now and 2019, while some of the most innovative companies will start to introduce new solutions, leaving the smaller companies behind unless they too are able to launch new technologies.
Less than five per cent of organisations with ore than 500 employees will buy unified threat management solutions by 2019, Gartner reports. Although UTM and firewalls are essential products for smaller companies, larger organisations will instead opt for routers and Multiprotocol Label Switching (MPLS) links to connect multiple destinations.
Gartner's final prediction is that by 2018, 85 per cent of network sandboxing products will be packaged with network firewall and content security platforms as the popularity of sandboxing increases in response to widening threats. Recent high-profile breaches have encouraged companies to redevelop products, responding to the need for zero-day malware detection in a sandbox.
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