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Sharp Decline Found in Information Security Budgets Within Tech, Media and Telecom Industries

Companies in the technology, media and telecommunications industries (TMT) significantly reduced investment in security spending in 2008, according to a new survey from Deloitte Touche Tohmatsu. The third edition of the Deloitte TMT Global Security Survey reveals that 32% of respondents reduced their information security budgets, while 60% of respondents believe they are "falling behind" or still "catching up" to their security threats — a significant increase from 49% over the previous year.

With the proliferation of digitized assets, security should claim a significant portion of a company's overall IT budget. However, only 6% of respondents allocate 7% or more of their total budget to IT security. This year represents a significant decline from the previous edition of the survey, which showed that 36% of the respondents allocated 7% or more of their budget to IT security.

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Related topics: Cybersecurity, Data Center, Telecom
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