Fortune 1000 Plans Higher IT Security Spending

Feb 1, 2005 12:00 PM

Information security spending will climb significantly in 2005, with 41 percent of the Fortune 1000 saying they plan to increase spending by more than 10 percent. Only 6 percent say they plan to decrease security spending in 2005.

These findings come from Wave 4 of TheInfoPro's Information Security Study, based on 179 interviews with Fortune 1000 security professionals with budgets that average $8.3 million per year. According to respondents, most spending growth will be channeled into identity management, with more than 32 percent of users planning at least one ID management project for 2005.

Other high-priority new projects include network and host intrusion prevention (NIPS and HIPS) and personal firewalls. Security information management (SIM) projects are also in the 2005 plan for 25 percent of users, as more switch from homegrown to packaged security management tools.

“Security users will spend more heavily in 2005 on identity and [network] access control technologies,” says David Taylor, TIP's chief research officer. “Regulations will drive a greater need to monitor customer information closely.”

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© 2012 Penton Media Inc.

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