[ISN] Security spending forecast: $6B

From: InfoSec News (isnat_private)
Date: Thu May 22 2003 - 22:22:14 PDT

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    http://www.fcw.com/fcw/articles/2003/0519/web-spend-05-22-03.asp
    
    By Michael Hardy 
    May 22, 2003
    
    By 2008, the federal government will spend almost $6 billion annually
    on information security, an increase of about 43 percent over 2003's
    $4.2 billion, according to a new report from research firm Input.
    
    The predicted increases reflect a "more normal" rate of growth than
    the spending spikes that came in the wake of Sept. 11, said Payton
    Smith, the firm's manager of federal market analysis. However, he
    noted that agencies still face challenges in implementing systems and
    so will continue to contract with vendors.
    
    The report attributes the drive for information security investment to
    strong oversight from Congress and the Office of Management and
    Budget. The new Homeland Security Department is also serving as a
    coordination point for governmentwide security initiatives, the report
    concludes.
    
    The prediction generally parallels a similar forecast about
    information technology spending in general that Input issued in April.  
    Input's Federal IT Market Forecast predicts that overall IT spending
    will rise from $45.4 billion to $68.2 billion from 2003 through 2008.
     
     
    
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