Worldwide enterprise security spending is forecasted to reach $96.3 billion in 2018, an increase of 8% from 2017, says research firm Gartner, Inc. Organisations are spending more on security as a result of regulations, shifting buyer mindset, awareness of emerging threats and the evolution of a digital business strategy.
Security Spending Is Based On Security Breaches
Overall, a large portion of security spending is driven by an organisation’s reaction toward security breaches as more high profile cyber attacks and data breaches affect organisations worldwide,” said Mr Ruggero Contu, research director at Gartner. “Cyber attacks 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.”
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