IT security spending on the rise

Spending on IT security will continue to grow next year, according to new data unveiled by Forrester Research.

The Forrester Business Data Services survey, which polled more than 1,200 North American enterprise and SMB security decision-makers, found that 21 percent of respondents expect to increase their IT security budgets in 2009, while nearly three-quarters of those surveyed expect no cutbacks in their security spending. Only 6 percent of respondents anticipate having to cut their security budget next year despite the current economic uncertainty.

In his keynote address at the Security Forum, Forrester Research Principal Analyst Khalid Kark noted that Security & Risk professionals are now in a renaissance period, and security’s influence is growing within organizations. He also revealed the following data from the study:

  • Security makes up 10 percent of overall IT operating budgets in 2008, up from 8 percent last year.
  • Nearly 50 percent of respondents report to a board/CEO or an executive committee. Security is no longer embedded within IT.
  • Data protection is critical. More than half of respondents said that protecting corporate IP and customer data was their top priority for the next 12 months.
  • Companies are realizing the significance of having business continuity and disaster recovery plans in place. Forty-two percent of respondents said it was very important, up from 33 percent from last year.

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