Transforming Banks for a Digital Future: The Winners, The Losers, and the Strategies to Beat the Odds
Conclusion 02: Spending
Security spending for 2001 was significantly higher in the most recent sample, especially for larger companies. Security spending as a percentage of overall IT budgets also rose. But somewhat fewer security budgets are projected to grow as fast for 2002. One explanation is that while 2001 security investments rose, the rate of increases won't be carried over by as many companies into 2002.
Security spending as a percentage of overall IT spending rose from 43% (companies that spent 5% or more of their overall IT budgets on security) in August to 53% in February. This was especially noticeable for large companies that spent 5% or more on IT, which jumped from 37% to 51%.
Security spending in 2001 also rose in real dollars at large companies. When asked about specific budgets, 18% of large companies in February said they thought they would end up spending more than $1 million in 2001 compared with only 7% in August.
However, for large companies, there's a minor drop in projected spending increases for 2002. In August, 57% said they'd increase security spending over the next 12 months. That response dropped slightly in February to 52% though it's not clear if this is due to tough economic times or some other factor.
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