Information Security industry may be worth $113 million by 2020

Firms have failed to imbibe proper knowledge while their response measures seems too antiquated to fight any critical threat, says Gartner analyst.

information security

Faster detection and response capabilities are getting a huge momentum among security buyers and will become the top priority through 2020 according to Gartner Inc IT research firm's latest research and survey. Their research says that thee spending towards information security is projected to be around $90 billion in 2017 which is marked increase of 7.6% from the amount that was spend on it in 2016 and will swell to become a $113 million industry when it reaches its zenith at 2020.

The principal research analyst at Gartner, Sid Deshpande said that "The shift to detection and response approaches spans people, process and technology elements and will drive a majority of security market growth over the next five years...While this does not mean that prevention is unimportant or that chief information security officers (CISOs) are giving up on preventing security incidents, it sends a clear message that prevention is futile unless it is tied into a detection and response capability."

Mr. Deshpande is of the opinion that this increased spending on security services is but an aftermath of the absence of skills to tackle the threats in this particular field. Firms have failed to imbibe proper knowledge and response measures in their skill set and currently have antiquated measures to fight any such threat. This has led to them soliciting guidance from external agents like security consultants, outsourcers and several other similar practitioners which have in turn ballooned up the spending.

However, there is a silver lining, as in the recent times the importance of having protection measures are slowly being registered and, therefore, there has been an increased level of awareness and counter measures being put in place. Moreover, according to the survey, "Even preventive security controls, such as EPP, firewalls, application security and intrusion prevention systems (IPSs), are being tweaked to provide more intelligence into security operations, analytics and reporting platforms."