8% Yearly Rise Seen in Fed IT Security Spending
Input: From $7.9 billion in '09 to $11.7 billion in '14 The federal government will increase spending on vendor-produced cybersecurity wares and services by 8.1 percent annually over the next five years, increasing from $7.9 billion this year to $11.7 billion in 2014, according to an estimate by Input. That's more than twice the rate of total federal IT spending, the IT government research firm said.Since 2005, Input said, cyber attacks on federal government sites have increased three fold, and the sophistication of these intrusions is rising. Another reason for the spending increase: the Obama administration's prioritization of cybersecurity and requirements to secure federal IT systems.
Kevin Plexico, Input senior vice president of research and analysis, said in a statement announcing the firm's findings, that the Obama administration is placing the spotlight on cybersecurity through bold initiatives, including the creation a senior-level cybersecurity adviser in the White House.
"But these roles have yet to be clearly defined," Plexico said. "Facing more complex and increasing attacks, the need for a multi-pronged approach will continue to drive increased funding over a wide range of opportunities."
