Spending on security-related hardware, software and services is expected to grow more than twice the rate of overall IT spending growth over the next four years as companies grapple with heightened cyber-security risks, according to industry data company IDC. Spending is expected to increase an average 8.3% annually over the next four years, surpassing $100 billion by 2020 from $73 billion this year. The biggest spenders are expected to come from the banking and discrete manufacturing industries, as well as the federal and central government, according to IDC.
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