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IT Security/Continuity Spending Beginning To Climb
September 26, 2003
By Keith Ferrell,
TechWeb News
Business spending on IT security and continuity is trending up in the wake of a major blackout, a slew of worms and viruses, and new requirements imposed by regulators, research firm IDC said this week.
IDC released a survey of 1,000 IT professionals that found that security was the only IT area to show consistent spending increases over the past six months. Overall the security and continuity market was projected to reach $70 billion this year.
“Growth in security spending will be increasingly driven by enterprises having to abide by privacy regulations [including] HIPAA [Health Insurance Portability and Accountability Act], GLBA [Gramm-Leach-Bliley Act regarding privacy of financial information] and SEC regulations,” said IDC analyst Ludovica Bruno.
The survey was part of IDC's Worldwide IT Security and Business Continuity Forecast for 2002-2007.
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