September 26, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Ongoing threats from hackers, viruses, and worms continue to make security a top IT spending priority for businesses, according to a new survey from research firm IDC (idc.com).
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The company also said August's electrical blackout along the eastern seaboard "reinforced the need for business continuity preparedness," adding that it expects spending on security and business continuity worldwide to grow twice as fast as IT spending over the next several years, surpassing $116 billion by 2007.
"Corporate spending on security and business continuity has been held back by two factors - uncertainty about the severity of risk posed by security threats and ongoing budget austerity," said John F. Gantz, chief research officer and senior vice president at IDC, in an announcement released yesterday. "However, any skepticism about the potential consequences of a security breach is fading fast as enterprises seek to improve their ability to manage organizational risk."
According to IDC, 40 percent of nearly 1,000 IT managers surveyed in July rated security as their top priority.
The data released was part of IDC's Worldwide IT Security and Business Continuity Forecast, which presents a market forecast for worldwide IT security and business continuity.
