Australian infosec spending to hit $2.36bn this year

Australian information security spending is on pace to grow 7.5% this year to nearly $2.36 billion, according to the latest estimates from Gartner.

The Australian infosec market is continuing to grow at a relatively stable rate in constant currency terms, the research firm said.

As a result, Gartner has retained its positive outlook for security services in the nation. Growth is expected to be stimulated by new legislation, product refresh spending and growing threats to national internet infrastructure.

Globally, infosec spending is expected to grow 4.7% in 2015 to US$75.4 billion ($107.33 billion), with growth being driven by new government initiatives, increased legislation and the numerous recent high-profile data breaches.

But spending on technology areas such as security software is starting to slow due to the already high penetration and mature status of the segments.

“Interest in security technologies is increasingly driven by elements of digital business, particularly cloud, mobile computing and now also the Internet of Things, as well as by the sophisticated and high-impact nature of advanced targeted attacks,” Gartner research analyst Elizabeth Kim commented.

This is driving increased investment in emerging offerings, including endpoint detection and remediation, threat intelligence and cloud security tools. But Kim said spending in this area won’t be able to compensate for the projected decline in the larger mature segments of the market.

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