Federal IT Security Spending to Increase Nearly $4B by 2014
A report by analyst company Input predicts federal IT security spending will jump to $11.7 billion by 2014. The predicted increase follows from increases in the focus on federal cyber-security and in the number of attacks.Federal IT security spending is expected to jump by nearly 50 percent between 2009 and 2014, according to research from analyst company Input. In a report titled "Defining the Federal Information Security Mission: 2009-2014 Forecast," the company predicts federal spending will jump "from $7.9 billion in 2009 to $11.7 billion in 2014 at a compound annual growth rate of 8.1 percent, more than twice the rate of total federal IT spending."
The predicted growth follows from both an increased federal focus on IT security and the increase in number of attacks. According to Input, cyber-attacks on the federal government have jumped 300 percent since 2005.