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U.S. federal spending to counter the growing threat of cyber attacks on government computer networks and national infrastructure is set to increase, according to research firm Input. Federal Spending On Cyber Security To Reach $11 Billion The demand for vendor furnished information security products and services by the federal government will increase from $7.9 billion in 2009 to 11.7 billion in 2014 at a compound annual growth rate of 8.1 percent, more than twice the rate of total federal IT spending. Cyber attacks on the federal government are up 300 percent since 2005, and the sophistication of these attacks is also on the rise according to Input. Cyber security is a priority for the Obama administration; and mandates, legislation, and funding are also driving the continued growth in spending. “The Obama administration is making an effort to put cybersecurity in the spotlight with some bold initiatives, such as the creation of the White House Office of Cybersecurity and the pending appointment of a U.S. Cybersecurity Coordinator, to oversee all federal information security efforts,” said Kevin Plexico, Input senior vice president of research and analysis. “But these roles have yet to be clearly defined. Facing more complex and increasing attacks, the need for a multi-pronged approach will continue to drive increased funding over a wide range of opportunities.” The top ten executive branch departments account for 65 percent of the total addressable IT security market. Federal agencies’ demand for information security services and technologies continues to present opportunities for vendors, according to Input.

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Federal Spending On Cyber Security To Reach $11 Billion






