According to Mr. Chabrow of GovInfoSecurity.com, the Federal Government will spend $13.3 billion on cybersecurity purchases from vendors within the next 5 years. This equates to an annualized growth of 9% .
By the end of 2010, Federal Government will have purchased Information Security totaling around $8.6 billion.
Protecting information, critical infrastructure and assets is critical. There has been a 445% increase in cyber threats in the last 4 years which may make a 9% growth rate look like a bargain?
What is your opinion?
Food for thought:
1. Spending money on security technology does not equal security.
2. Many security breaches are because of people; technology can help build a safety net when people make mistakes, but investments in people and process are also critical.
3. How much spending is "enough"? It is essential that industry continue to provide approaches to help organizations calculate the return on investment.
"Fed Infosec Spending Seen Rising By 9% a Year. Study: U.S. to Earmark $13.3 Billion for Cybersecurity Wares by 2015", Eric Chabrow, Executive Editor, GovInfoSecurity.com, December 1, 2010.