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FINANCIAL NEWS
MENA to spend USD1b on information security in 2014
16 Sep 2014
(MENAFN) The Middle East and North Africa’s (Mena) spending on information security is expected to reach USD1 billion this year, increasing 8 percent compared to 2013, Gulf News reported.
Network security and security services are expected to account for 75 percent of enterprise spend this year, with the trend expected to continue through 2018, while managed security services could reach 16 percent of all security services spending in MENA, compared to 35 per cent globally.
Meanwhile, organizations in the region are spending around 10-12 percent of their total IT budget on security, compared to 6 percent being spent globally.
This surge in spending is mostly due to the increasing usage of mobile, cloud, social and information, which is expected to drive the use of new security technology and services through 2016.
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