The recent economic downturn has placed added strain and pressure on enterprise IT budgets as companies look to accomplish increased results with minimal staff and resources. As a result, many companies are outsourcing their IT services, working with third-party providers who will achieve greater returns on investment and allow in-house IT departments to work on other projects.
A recent study from Gartner predicts a major source of IT outsourcing will be in the security sector, as highly publicized data breaches and data losses are prompting executives to make IT security a priority moving forward. While the majority of investment will be in security infrastructure, IT services and professionals managing the equipment and solutions will be a main focus for enterprises, particularly businesses operating in international markets.
Details of the study
According to Gartner, worldwide spending on IT security services and infrastructure is expected to reach $60 billion by 2012, up 8.4 percent from $55 billion in 2011, and possibly exceed $86 billion in 2016. The top markets companies will be investing in offer software, services and network security appliances to secure enterprise and consumer IT solutions.
The fastest-growing segments in the security industry include IT outsourcing of managed security services, secure web gateway, and security information and event management. The increasing demand for cloud-based security is also driving investment in the IT security market, with above-average growth expected for cloud solutions in the next four years.
"The security infrastructure market is expected to experience positive growth over the forecast period, despite risks of further economic turbulence," said Lawrence Pingree, research director at Gartner.
In addition, Gartner's 2012 annual CIO survey revealed an increased prioritization for IT security compared to results from a year prior. With regard to CIO budgeting plans moving forward, the survey showed global organizations are placing emphasis and resources on security of IT solutions.
The survey found 45 percent of global CIOs expect an increase in their security budgets, and 50 percent predict the budget will remain the same. Just 5 percent of CIOs anticipate a decline in security funds in 2012.
"Although security remains fairly resilient in tough times, the prolonged financial crises seen in the U.S. and Europe have had some impact on IT security spending globally but to a lesser extent for emerging countries, such as Brazil, China and India," said Ruggero Contu, research director at Gartner.