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Report: Federal Cybersecurity Spending to Make 9.1 Percent Annual Gains

2 mins read
Image: nicemonkey

A new industry report predicts continued growth in federal cybersecurity spending, reaching $13.3 billion by 2015, citing an increased focus on cybersecurity and a lack of qualified cyber professionals, according to InformationWeek.

The Federal Information Security Market, 2010-2015 report, commissioned by Input, expects a 9.1 percent annual growth rate for federal cybersecurity spending based on the feds’ spending forecasts, interviews with IT managers and the company’s own analytics.

Key factors driving the market include:

  • The rapid proliferation of cyber incidents and threats, up 445 percent from 2006, according to the report
  • Far-reaching “legislative remedies,” such as the recent spate of cyber bills circulating through Congress
  • Two recent high-profile cyber positions: U.S. Cyber Coordinator Howard Schmidt and the Pentagon’s Cyber Command, headed by Gen. Keith B. Alexander
  • Cyber workforce shortages that threaten to inhibit progress and drive the need for technology

The last is particularly troubling, the report finds, as cyber threats increase but agencies remain hampered by a lack of adequate personnel.

In the meantime, the report finds, the gap may likely be filled by contractors with relevant skills.

But while the report makes clear that increased federal spending is almost guaranteed, uncertainties still swirl around the issue of cybersecurity.

For one, the fate of various pieces of cybersecurity legislation, wending their way through Congress, is still unclear.

And last month, news of a proposed government board to set cybersecurity training requirements for new workers who will be filling the gap in the federal workforce sparked controversy.

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1 Comment

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