According to the latest research from Gartner, worldwide spending on information security products and services will likely reach $81.6 billion in 2016. Despite this continued investment in security, the pace at which new data breaches are reported shows no signs of slowing. So far 2016 breach figures are up 14% over last year’s record pace. The reality is that data breaches continue to outpace information security spending.
While consulting and IT outsourcing are the largest categories of security spending right now, there's a shift coming. Security testing, IT outsourcing and data loss prevention will all see higher spending growth over the next few years. Looking at the facts, Gartner senior research analyst Elizabeth Kim notes that organizations must focus as much energy on detection and response as is currently being spent on prevention:
“Organizations are increasingly focusing on detection and response, because taking a preventive approach has not been successful in blocking malicious attacks. We strongly advise businesses to balance their spending to include both."
Data breach prevention is still an important area in security planning. However, breach detection and response give organizations more leverage in dealing with threats. Better yet, solutions like SIEM (security information and event management) are expanding thanks to new integrations. These solutions give organizations a more complete view of all their information inputs, including detection data. Learn how you can integrate Absolute DDS with your SIEM solution and the five types of insights you'll gain.
The cybersecurity sector is also on its way towards a severe skills shortage, which will only make the need for automated alerts and detection-and-response tools even greater. Tools such as Absolute DDS can help organizations quickly detect and respond to security threats. By remotely locking devices or deleting data, organizations can stop a security incident from becoming a costly data breach.