Security Spending is up

Network World summarizes a new IDC report on global spending.

By Ellen Messmer
Network World Fusion, October 2003

IDC's latest report on global spending is an overview of how corporate dollars were invested in everything from security surveillance systems and biometrics to firewalls, authentication, and content management.

According to this metric, worldwide spending on these types of security products reached $64 billion last year, showing 11% growth, and is expected to surpass $118 billion by 2007. Spending was fairly evenly split between services, software and hardware.

As part of the report, IDC also took time to interview about 1,000 IT managers in July, asking them to pinpoint their highest priorities. About 40% rated security as their highest priority, and security spending was said to now equal over 7% of total IT spending in 2002.