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Thursday, October 22, 2009

Feds’ Security Spending On a Roll: Over 8 Percent Growth Over Next Five Years

The U.S. federal government’s IT security spending will jump from $7.9 million to $11.7 billion in 2014 thanks to tightening federal security regulations, a 300 percent jump in attacks on feds’ networks and systems during the past five years, and the Obama administration’s emphasis on security, according to new data from research firm Input.

“We see this as a bright spot in federal spending,” says John Slye, principal analyst at Input, which expects a compound annual growth rate of 8.1 percent for security from 2009 to 2014.

Input says the top 10 executive branch departments—the Office of the Secretary of Defense, U.S. Air Force, Homeland Security, Army, Navy, Department of Energy, Health and Human Services, Justice Department, Treasury Department, and Commerce Department—account for 65 percent of all federal IT spending.

“We’ve seen that with the identity and access management market that FISMA and HSPD12 created,” he says.

Input last year forecast a 7.7 percent compounded annual growth rate for federal security spending through 2013.

Posted on 10/22