Security still high up enterprise CIOs' investment agenda

Worldwide spending set to reach $60bn this year, claims Gartner

Even as the downturn takes a bite out of CIOs' budgets, enterprises are still finding cash to invest in security, with the global market worth set to breach the $60bn (£37bn) mark this year.

Gartner predicts that worldwide IT security spending this year will grow 8.4 per cent from its 2011 level of $55bn. The market is forecast to continue on its stellar growth path for at least the next five years, with sales soaring to $86bn in 2016, the analyst projected.

Some 45 per cent of CIOs quizzed by Gartner expect their security budget to increase this year, with 50 per cent anticipating that it will remain the same as last year, and just five per cent budgeting for a decrease in funds.

Top growth areas singled out by the analyst this year include outsourced security services, web gateway appliances and security information and event management. Gartner is also predicting "above-average growth" for cloud-based security services.

Research director Ruggero Contu said: "Although security remains fairly resilient in tough times, the prolonged financial crises seen in the US 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."