[iwar] [fc:Information.security.spending.to.hit.$30.billion.by.2005]

From: Fred Cohen (fc@all.net)
Date: 2001-11-26 06:19:25

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From: Fred Cohen <fc@all.net>
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Date: Mon, 26 Nov 2001 06:19:25 -0800 (PST)
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Subject: [iwar] [fc:Information.security.spending.to.hit.$30.billion.by.2005]
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Information security spending to hit $30 billion by 2005 
Securitysearch.net, 11/21/01

By 2005, organizations and governments worldwide will spend more than
$30 billion annually on information systems security, predicts RBC
Capital Markets, a member of RBC Financial Group (www.royalbank.com). 
In the RBC Capital Markets research report, "Safe and Sound: A Treatise
on Internet Security," author Stephen Sigmond warns that information
security expenditures to date have been inadequate, resulting in $15
billion in losses last year related to network security breaches,
viruses and other hacker attacks. At the same time, corporations and
governments only spent $10 billion on protecting their systems from such
attacks. 
"The tragic events of September 11 have made security a high-priority
budget item," said Sigmond, a two-time Wall Street Journal "Best on the
Street" analyst and Institutional Investor "Home Run Hitter" award
winner in 2000. 
"We believe that security will be among the sectors leading an eventual
recovery in IT spending as companies and government organizations focus
on protecting their physical and digital assets." 
According to Sigmond, annualized spending on information security will
grow at a nearly 20-percent compound annual growth rate over the next
five years, rising to $31.8 billion in 2005, from an estimated $13.5
billion this year. 
Such investments are also likely to boost growth in other e-business
sectors. 
"Not only are security solutions essential for protecting information in
a networked economy, they're also critical enablers for the development
of numerous multi-billion dollar markets, such as e-commerce, wireless
communications, virtual private networks, ASPs and storage area
networks," said Sigmond. 
Among the findings in the RBC Capital Markets report are that
best-of-breed companies will continue to gain market share. Corporations
evidently prefer best-of-breed solutions to all-in-one suites, "which
have consistently failed to deliver comprehensive, multi-level
security." 
Sigmond also envisages consolidation in the IT security sector to
accelerate in the next 12 to 24 months. Public companies, particularly
those in networking and network/systems management, are expected to buy
rather than build, as they grow their presence in security.

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