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Worldwide Security Spending to Reach $96 Billion in 2018, Up 8 Percent from 2017, Says Gartner

Worldwide enterprise security spending to total $96.3 billion in 2018, an increase of 8 percent from 2017, Gartner forecasts. "Organizations are spending more on security as a result of regulations, shifting buyer mindset, awareness of emerging threats and the evolution to a digital business strategy. ... Overall, a large portion of security spending is driven by an organization's reaction toward security breaches as more high profile cyberattacks and data breaches affect organizations worldwide. Cyberattacks such as WannaCry and NotPetya, and most recently the Equifax breach, have a direct effect on security spend, because these types of attacks last up to three years. ... several other factors are also fuelling higher security spending. Regulatory compliance and data privacy have been stimulating spending on security during the past three years."

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