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Gartner: Information security spending on the rise as threats mature

Information security spending is increasing with companies interested in trying to keep their networks secure from cybercriminals

By Michael Hatamoto on Aug 25, 2014 04:30 pm CDT - 0 mins, 50 secs reading time

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.

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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."

Michael Hatamoto

ABOUT THE AUTHOR - Michael Hatamoto

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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