Today in Data: Soaring Global IT Security Spend

By PYMNTS

Posted on August 17, 2017

As long as there is an open window, a robber will always find a way to get inside the home to take a few souvenirs for themselves. The same can be said for retail and organizations around the world. If there’s a will, there’s a way that hackers will find their ways into the various connected IT systems to either corrupt or steal important files and sensitive data.

This year, spending on IT security efforts to help avoid future cyberattacks will reach an all-time high, according to Gartner’s latest research. The data released by Gartner shows that this area of IT in particular will not only shoot up by the end of this year but it will continue throughout next year.

Here are the numbers:

$93 billion | Amount Gartner predicts information and IT security services will be for 2018

$86.4 billion | Amount Gartner predicts information and IT security services will be in 2017

40 percent | Amount of all managed security service contracts paired with other IT-related security projects by 2020

20 percent | Amount of all managed security service contracts paired with other IT-related security projects in 2017

7 percent | Increase of information and IT security spend between 2016 to 2017

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