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Tech Security Spending to Rise in Wake of Attacks

by Byron Acohido, USA Today
Publication: ABC News

July 3, 2011


Big companies and government agencies likely will have to rethink their approach to tech security in the wake of the disbanding of hacktivist group LulzSec, security analysts say.

Spending on information technology security already is growing faster than spending on general technology. And corporate and government tech buyers will have to dole out even more to defend against profit-minded cyberthieves and spies looking to swipe state and corporate secrets.

In fact, global spending on security products and services is expected to reach $71 billion by 2014, up from $55 billion today, according to Lawrence Pingree, research director for Gartner.

The recent hacking escapades of LulzSec underscore how hacktivists, motivated by the desire to express an ideology, have shaped a new kind of threat that's gaining steam.

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