Information security spending will reach $71.1 billion in 2014, a 7.9 percent year-over-year growth rate, according to the Gartner research group. The data loss prevention sector will have the fastest growth, amounting to 18.9 percent, with security spending to rise 8.2 percent in 2015 up to $76.9 billion.
There is great interest in improving security, especially among companies with customer and client data at risk, as retailers, financial institutions, and healthcare in the private sector try to boost their defenses. Cybercriminals are improving their malware and malicious software, which can be found online for a relatively low price to anyone willing to pay.
"This Nexus of Forces is impacting security in terms of new vulnerabilities," said Lawrence Pingree, Gartner research director, in a press statement. "It is also creating new opportunities to improve effectiveness, particularly as a resule of better understanding security threats by using contextual information and other security intelligence. This has led to increased awareness among organizations that would have traditionally treated security as an IT function and a cost center."