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Security Major Investment For 2017


Security Major Investment For 2017
MediaPost Communications

Marketing budgets increased in 2016 for the third consecutive year, per Gartner’s 2016-2017 CMO Spend Survey -- climbing 1% to 12% of company revenue, according to the poll of 300 marketing leaders across the United States and the United Kingdom.

Amidst a year of data hacks with devastating consequences, ranging from the hacking of the Democratic National Committee to past breaches haunting Yahoo and LinkedIn, brands would be ill-advised not to consider security in their budgets for the coming year.

A recent poll of 196 IT management-level professionals by Computerworldsuggests that security will be a major investment for enterprise companies in 2017. Almost half of all respondents asserted that they plan to increase spending on security technologies in the New Year, including investing in identity management, malware protection and privacy.

Security ranked as the third-highest factor driving IT recruitment, according to the Computerworld report, with a third of respondents selecting security initiatives as a major channel for investment in the New Year. Security, compliance and governance also ranked as the third top-ranking skills IT departments planned to hire for in the next 12 months.

Global cybersecurity spending is predicted to grow from $73.6 billion in 2016 to 101.6 billion in 2020, according to analyst firm IDC. Security spending will be primarily funneled to security services, followed by security software and user behavior analytics software according to the report. The United States will represent the largest market, with an estimated $31.5 billion spent on cybersecurity-related services, hardware and software in 2016. 

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