The poor economy and recession has resulted in cutbacks just about everywhere, but apparently not in information security technology spending. That’s not necessarily good news, though, for those looking for a return on investment of their IT dollar: Much of the increase in IT spending around security is being tied to meeting regulatory compliance obligations, according to a recent report.
The global study, “Economic downturn drives increased spending in IT security worldwide” [PDF download], by GMG Insights of Sherborn, Mass., and sponsored by CA, shows that the budgets of only 8% of the respondents are planning to spend less on security, while 42% anticipate an increase in spending. The increases are tied to increased internal threat management and regulatory compliance, the report said.
Companies in the North America, EMEA (Europe, Middle East, Asia), and AsiaPac regions spend around 25% of their IT security budget on regulatory compliance. Most of those companies by a wide margin anticipate that new regulations will result in increased compliance spend: North America 81%, EMEA 79%, and AsiaPac 69%, according to the report.