IT Security Spending by U.S. Companies to Hit $61 billion in 2006

7.3%
IT Security Spend share of  Total IT Spend in US

IT departments in U.S. enterprises will spend some $61 billion on security in 2006, representing 7.3% of total IT spending in the U.S., according to a new report from Info-Tech Research Group. Acquisition of new security technologies and services will account for $21 - $27 billion, while the balance goes to operations and staffing costs.

2006 IT Security Spending in select sectors in US: 

  • Business services ($10.8B) 
  • Financial services ($10.4B)
  • Government sectors ($9.9B) 
  • Education ($3.6B) 
  • Health Care ($3.2)
  • Primary Industries ($2.5B)

The study also found that enterprise spending on security and importance placed on security preparedness increases incrementally with the size of the company. The larger the company, the greater the percentage of the overall IT budget allocated to security. 

"IT security has become a higher priority over the last few years, with a greater proportion of the overall IT budget being spent on security equipment and services," said Ed Daugavietis, senior research analyst with Info-Tech Research Group. "In the past year alone, 46 per cent of IT managers have increased spending on security compared to only four per cent who have decreased their level of security spend." 

The research findings cap an extensive study of the US and Canadian markets for IT security conducted by Info-Tech's Indaba Division over six months this year, including 1,100 U.S.-based IT decision-makers.

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