Centennial Article: Security spending to increase to over £5.3bn

Security spending to increase to over £5.3bn

The amount spent on security software is set to rise this year by 11.2 per cent, with revenue for the sector reaching over $10.5 billion (£5.3 billion) worldwide.

It has also been predicted that this figure will exceed $13.1 billion by 2012, according to Gartner, the research firm, reports ZDNet.

An awareness of the damage which security breaches can cause companies is said to be driving the move, in addition to a move towards remote workers, which creates a higher security risk.

Ruggero Contu, the principal research analyst for the firm, told the website that as more companies have an "open" connectivity with other companies they realise the need to secure communication points.

"Security spending is driven by a variety of pressing concerns, the most immediate of which is the need to 'keep the bad guys out' through defensive measures such as next-generation firewalls."

Gartner has also predicted that increasing competition from large companies will drive prices down.

One expert has recently said that some data protection products no longer meet the requirements of many organisations.

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About Centennial Software

Centennial Software (www.centennial-software.com) is a leading developer of asset management and network security solutions with more than five million licenses sold to blue-chip organizations around the world. Centennial's growing portfolio of solutions helps organizations better manage their IT infrastructure, maintain compliance and minimize operational risks. Centennial products are available through a global network of approved resellers and market-leading OEM vendors. The company operates offices in the USA, UK, Germany, Sweden and Australia.

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