The latest Merrill Lynch CISO Survey is out and it highlights some note worthy trends. Oddly, the survey indicates that security spending expectations have dropped off dramatically in just the last three months. Respondents expect their IT security spending over the next 18 months to increase only 2.9% compared to 11.4% in March. But one of the authors, Garrett Becker, told me he feels from recent conversations that this might be turning around already. My own anecdotal evidence supports this.
Most likely fueled by the recent spate of data breaches the highest level of spending expectation is around data protection or “information leakage”. Based on the level of activity the vendors are seeing this is an accurate reflection of an industry trend. There are at least 14 vendors in this space already. And many existing security vendors are capitalizing on their market penetration to enhance their offerings to include leak prevention capabilities.
And finally, strong authentication is still a high priority. I have blogged often enough about this. Tokens are here to stay. They are a proven technology that gains user acceptance quickly. Banks and online brokerages have to go this way quickly.