$96B in Security Spending Expected in 2018

According to the latest research from Gartner, enterprise cybersecurity spending is expected to top $96 billion in 2018, an 8% increase from 2017.

This increase comes as organizations scramble to protect themselves from damaging data breaches and meet regulatory compliance requirements, like the upcoming GDPR mandate who’s deadline is just around the corner (May 2018).

53% of organizations cited breaches as their number one driver for spending, aiming to avoid being the next Equifax in the headlines for poor security practices.

“Overall, a large portion of security spending is driven by an organization’s reaction toward security breaches as more high profile cyber attacks and data breaches affect organizations worldwide,” claims Ruggero Contu, research director at Gartner.

The fastest growing sub-segments in 2018 are expected to be security testing, IT outsourcing, and Security Information and Event Management SIEM. Log Analysis or SIEM, is a critical weapon in the fight against any cyber-attack. NNT’s Log Tracker Enterprise offers a comprehensive and easy to use SIEM solution for any compliance mandate, providing compliance automation, user & system activity audit trails, network anomaly forensics, and proactive threat detection.

Regulations including GDPR, NIST, HIPAA, and China’s Cybersecurity Law are also driving security spending in 2018. Other trends expected next year include a shift towards detection and response, particularly at the endpoint, and automation and outsourcing. This increase in outsourcing is a result of a technology industry skills shortage, with security outsourcing expected to reach $18.5 billion in 2018.

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