$1 trillion will be spent on Cybersecurity in the next 5 years!

Originally published by Peter S. Vogel.

CSO recently predicted “a major uptick in cyber spending — to the tune of 12 to 15 percent year-over-year growth through 2021” in an article entitled “Cybersecurity spending outlook: $1 trillion from 2017 to 2021” which included these comments from the SANS Institute which were presented in February 2016:

Tracking security-related budget and cost line items to justify expenditures or document trends can be difficult because security activities cut across many business areas, including human resources, training and help desk.

Most organizations fold their security budgets and spending into another cost center, whether IT (48%), general operations (19%) or compliance (4%), where security budget and cost line items are combined with other related factors.

Only 23% track security budgets and costs as its own cost center.

Given the size of the cyber threat around the world we have little choice but spend these significant monies on Cybersecurity!

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