Download the authoritative guide: Cloud Computing 2018: Using the Cloud to Transform Your BusinessFederal agency spending on IT security will grow by 20 percent over the next five years, according to a report issued by government analyst INPUT. The growth rate will take IT security spending from $6.1 billion this year to $7.3 billion in 2010.
''Over the past few years we have seen a rise in crippling network viruses and federal agencies are realizing their current systems are not enough to fend off attacks and breaches,'' Chris Campbell, a senior analyst at INPUT, said in a statement.
The most recent Federal Information Security Modernization Act (FISMA) report to Congress shows that federal agencies have made ''moderate headway'' in reviewing information systems and implementing security plans.
Last year, 76 percent of federal IT systems reported having an up-to-date security plan, a 12 percent increase over the previous year. Nevertheless, federal agencies are still far off the 90 percent goal set by the Office of Management and Budget (OMB).
During the current growth stage, he added, IT security vendors need to look for partnership opportunities.
''As a part of its cost-saving efforts, OMB has added IT security as a sixth line of business. Although the effects of this effort will not be seen for many years, we will likely see federal agencies consolidate programs in an effort to reduce redundant systems,'' he said. ''Therefore, teaming partnerships will become even more important to security vendors in the long term.''
This article was first published on internetnews.com.