In a report published Wednesday, Morgan Stanley analyst Keith Weiss discussed the results of a cyber-security themed survey he conducted with more than 60 Chief Security Officers (CSOs). “Growth in security spending is expected to improve in 2015 versus 2014, with respondents reporting an average 12.8 percent growth in network security spending in 2015 versus 10.7 percent growth in 2014,” Weiss wrote. “This suggests that commercial demand for security is at least stable, if not improving, as supported by generally solid first quarter results for security vendors.” Weiss also highlighted several other key findings from the survey: Firewall refreshes are expected to downtick modestly in 2015 but refreshes remain “relatively robust” as 53 percent of respondents plan to refresh in 2016 and beyond. Spending on “next gen security solutions” is likely to accelerate as advanced malware protection and security analytics ranked at the top of the priority list for CSOs. 79 percent of respondents indicated they have or will purchase Advanced Malware Protection as part of a larger endpoint or network security suite. Spending will continue to consolidate traditional “deterministic” functionalities to free up personnel to focus on “next gen” or “probabilistic” technologies that will provide better security protection. Investment […]
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