Security threats push IT spending up

Wednesday, 12 Mar 2008. Categories: USA, India

Security threats and the ever increasing risk of identity theft mean that spending on security among IT decision makers at companies across the world is going up.

That is the conclusion of research from Cisco, which says that three in five of the executives it contacted said they would be increasing spending on security within the next year.

Partly driven by the rapid growth in emerging economies such as India - where 83 per cent said they were planning to hike budgets - the move underlines the scale of security risks and their variety.

Overall, 62 per cent said spending would increase in 2008, while more than half were planning to levy an extra ten per cent on to their existing IT security budget.

"During the past few years, virus attacks caused the most damage in countries where internet adoption was greatest," said John N Stewart, Cisco's chief security officer.

"As new countries increase adoption, those that drive the new internet growth can learn from others to understand the inherent security challenges - especially those who use the internet to shop or work remotely."

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Security threats push IT spending up

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