No Austerity in Cybersecurity: Double-Digit Growth Predicted
Nov 30, 2011link
A new forecast for cybersecurity spending cements the industry's status as a growth sector, rather than a passing fad. The study, published Dec. 1, predicts more defense contractors will be scooping up information-technology companies in the coming years as a means to capture market share.
Analysts at the global accounting and auditing firm PwC project that overall global cybersecurity spending will reach $60 billion in 2011, and will grow at a rate of 10 percent annually during the next three to five years.
Army Gen. Keith Alexander, commander of U.S. Cyber Command, has described the theft of sensitive information and trade secrets from corporate networks as staggering and the "greatest raid on intellectual property" in history.
The last quote doesn't square with the first quote. As can be seen in the other articles cited here, the current technologies are not stopping "greatest raid on intellectual property". Instead of buying "market share", companies should be investing in and buying original solutions.