Security spending ‘largely unaffected’ by budget cuts

Many companies are safeguarding their spending on IT security, even when other areas of their budgets are being cut, a new report has identified.

Security is generally less affected than other infrastructure areas, Canalys found, with the IT security market expected to grow seven per cent each year by 2017.

The Asia-Pacific region, however, emerged as one of the savviest when it comes to cyber security, as budgets are forecast to have increased nine per cent this year alone.

Canalys expects small and medium-sized businesses to be the biggest growth segment over the coming five years, suggesting that they may be keen to keep on top of penetration testing and other measures.

Analyst Nushin Vaiani explained: "Medium-sized businesses are prioritising more of their IT budgets and resources to ensure their businesses are compliant with various data protection regulations.

"They also want to give their customers reassurance about the services they provide."

Network security was identified as the area to receive the greatest level of investment, while encryption and data-loss prevention solutions are likewise set to receive funding over the coming years.

Many companies are being forced to readdress their security in light of the bring your own data trend, the group acknowledged.

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