Analyst: Security spending shifts to outsourcing by '07

Thursday, 8 May 2003, 11:48 AM EST

Enterprise security spending is usually focused on firewalls, intrusion detection systems, hiring security professionals or providing in-house education, for example. A new study, however, predicts a shift in spending toward security services that will balloon that market to more than $20 billion by 2007.

Framingham, Mass.-based International Data Corp. is predicting the worldwide market for security services to be $23.5 billion by 2007, which represents a 20.9% annual growth rate. IDC includes a wide range of things under "information security services" in its analysis, including: professional services; consulting; integration and implementation services; managed services (such as managed security service providers); response services and education and training.

Allan Carey, program manager for Information Security Services at IDC said security spending is still a priority for enterprises and security was one of the few IT markets where spending did not nosedive during 2001 and 2002. In the next few years, he predicts enterprises will need help from service providers in evaluating business risks and securing valuable assets.

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