IT security — Industry Insights, Data, and Solutions For Business Leaders

New IDC Spending Guide Forecasts Worldwide Security Investments Will Grow 12.1% in 2023 to $219 Billion

Worldwide spending on security solutions and services is forecast to be $219 billion in 2023, an increase of 12.1% compared to 2022, according to the new Worldwide Security Spending Guide from International Data Corporation (IDC). Investments in hardware, software, and services related to cybersecurity are expected to reach nearly $300 billion in 2026, driven by the ongoing threat of cyberattacks, the demands of providing a secure hybrid work environment, and the need to meet data privacy and governance requirements.

CybersecurityStaff ReportsMarch 22, 2023Cyber Security, cybersecurity investments, IT security

According to ABI Research, Accelerating IT-OT Convergence in Rail to Boost OT Cybersecurity Market

The popular notion might view the rail industry as a laggard compared to auto or high-tech manufacturing when embracing Industry 4.0. Yet railways are increasingly dependent on sophisticated connected systems to enhance efficiency and customer satisfaction. With the advent of connected online systems and the convergence of Operational Technology (OT) and Information Technology (IT) systems, network and data-sharing security between IT and OT systems is proceeding to become an integral component of safety, providing new market opportunities in the rail, freight, and transit sector.

CybersecurityStaff ReportsFebruary 10, 2023IT-OT, IoT security, IT security, OT

Gartner Forecasts Worldwide IT Spending to Grow 2.4% in 2023

Worldwide IT spending is projected to total $4.5 trillion in 2023, an increase of 2.4% from 2022, according to the latest forecast by Gartner, Inc. This is down from the previous quarter’s forecast of 5.1% growth. While inflation continues to erode consumer purchasing power and drive device spending down, overall enterprise IT spending is expected to remain strong.

TechnologyStaff ReportsJanuary 23, 2023IT Spending, IT security, IT

Ongoing Demand Will Drive Solid Growth Expected for Security Products and Services, According to New IDC Spending Guide

Worldwide spending on security products and services will see solid growth in 2020 as organizations invest in solutions to meet the needs of a much larger remote workforce and a wide range of security threats and requirements. Worldwide spending on security-related hardware, software, and services will be $125.2 billion in 2020, an increase of 6.0% over 2019. As the global economy recovers from the impact of COVID-19, worldwide security spending is set to reach $174.7 billion in 2024.

Most PopularMelissa FisherAugust 16, 2020IT security, telecom, security spending

Progress in IT Security Practices Mixed but Not Improving Overall, Computer Economics Says

Computer Economics has released its major annual study on 34 IT management best practices, and one important category–IT security and risk management–is showing mixed results. Adoption of one vital IT security best practice is down, while others are up or flat.

Gartner Identifies the Top Six Security and Risk Management Trends

As businesses become increasingly concerned about the impact cybersecurity can have on business outcomes, security leaders should harness that increased support to improve their organization’s resilience while elevating their own standing, Gartner Inc. says.