Security spend to surpass £25bn in 2016

Every year businesses increase their spending on cyber-security protection in order to keep their organisations, data, and users safe. The 2016 spend will exceed US $37 billion (£25bn).

This goal continues to be threatened by security attacks according to Ovum's latest research Security 2016 Trends to Watch report. It says that the security industry will spend time broadening the knowledge of organisations on the threats they face and IT teams will use security intelligence and analytical abilities to predict the threat landscape and act against new and continuous threats.

Some key security trends to look out for will be the importance of reconstructing the use of security analytics and threat intelligence; saving business data safe calls for new and improved technology; making cyber-security controls better to deal with next-generation business systems; identity management must grow to face the full digital lifestyle.

“In 2016, the security plaudits should go to software and service providers who can identify threats earlier and provide organisations with the quality of security intelligence they need to be safe,” said Andrew Kellett, principal analyst, software – IT solutions and author of the Ovum report. “The focus on keeping user and business data safe is a key issue. As such, there needs to be far more interest in the control elements of security that define what users are allowed to do: what on-premise and cloud-based facilities and services they can and cannot use, what data resources they are allowed to access, and where that data can be kept.”