Computerworld, J.P. Morgan Conduct Joint Survey On IT Security Spending in the Aftermath of September 11

Business Wire, Nov 14, 2001

Business/Technology Editors

FRAMINGHAM, Mass.--(BUSINESS WIRE)--Nov. 14, 2001

Spending on security to surge 43% in 2002 -- $1 Out of Every $10

Budgeted for IT Allotted to Security

A report on IT security spending co-sponsored by IDG's Computerworld newspaper and J.P. Morgan Securities, Inc. indicates that spending on IT security will surge 43 percent in 2002. The results of the joint survey of 174 IT professionals also reveals that 53 percent of IT executives from a range of industries polled plan to dedicate one out of every 10 dollars of their budget to security technology.

Another key finding was that as a result of the terrorist attacks on September11, many technology executives reviewed their IT security architecture spending decisions for 2002 and subsequently increased budgets so that they could improve security.

Companies with annual revenue greater than $500 million will spend the most on security, which will account for 11.2 percent of their total IT budgets, up slightly over the average of 10.3 percent for all companies. By comparison, security spending across all companies accounts for an average 7.4 percent of this year's IT budgets.

Five areas stood out as key technologies for 2002. Over 40 percent of the respondents indicated that their companies would be deploying Security Socket Layer (SSL), anti-virus, virtual private networks (VPN), intrusion detection, and firewall technologies.

The survey was conducted online and distributed in mid- and late October via e-mail to executives in IT management. The results were compiled in early November. The industry breakout for the respondents was fairly even, with manufacturing, technology service providers and government entities being the largest industry groups to respond.

For a copy of the complete report or to speak with Julia King, national correspondent for Computerworld, about the survey please contact Chris Harrall at 781-915-5017.