Security now five per cent of IT budget

Wednesday, 4 June 2003, 2:24 PM EST

Spending on security during 2003 will exceed five per cent of companies' IT budgets for the first time, according to analysts.

Gartner said that the increase means that security budgets will have grown at a compound annual rate of 28 per cent since 2001, compared with just six per cent for IT budgets as a whole over the same period.

"The focus on critical infrastructure protection means that the government, utilities, transportation and energy sectors will be forced to spend more on security," said John Pescatore, vice president and research fellow at Gartner.

"In addition, increased enforcement of copyright laws and liability concerns will force universities to increase security spending. These vertical industries will be the most attractive targets for security vendors."

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