May 25, 2003 (08:05 PM EDT)
Feds Will Cool Growth Pace For I.T. Security Spending Security Returns To Earth
Read the Original Article at InformationWeek
The federal government will continue increasing its spending on IT security, but not at the astounding rate of the two years following Sept. 11, 2001, predicts a report by Input, an analysis firm that serves companies doing business with the government.
Spending on information security products and services will increase at a 7% compound annual growth rate, up from $4.3 billion in 2003 to almost $6 billion in 2008, Input predicts. That's a dramatic drop from the 200% increases in federal IT security spending during 2001 and 2002, indicating that budget increases are returning to a more normal level.
Federal agencies still face plenty of challenges in implementing infrastructure protection and security plans, Input says. Many agencies still come up short in terms of risk assessment, security planning, and certification when audited by Congress and the Office of Management and Budget.
The Department of Homeland Security isn't writing all the checks for information-security products. The report says that while the department is serving as a coordination point for governmentwide security initiatives, responsibility for securing specific systems still lies in the agencies themselves.