Cybersecurity spending is expected to reach $71.1 billion this year (a 7.9 percent increase year over year) and estimated to grow about 8 mpercent annually through 2016, according to Gartner Group.
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"With the myriad of sophisticated attacks and the ad infinitum game of "cat and mouse" between hackers and security software vendors, we believe a big ramp in cybersecurity spending will continue in the coming years as "cyber warfare" heats up, adding to growth prospects at next-generation security software companies," said Daniel Ives, an analyst at FBR Capital Markets, in a recent note.
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But there's a shift of sorts that is taking place. Ives said that his checks indicate that IT professionals are moving their investments away from traditional security technologies, like perimeter defenses (like firewalls), and investing more in advanced cyber-protections, like firms that provide big data analytics for security.
Ives said software vendors including Palo Alto Networks, FireEye, Proofpoint and Splunk all appear to be well-positioned (FBR has an 'Outperform rating for these companies) heading into 2015.
Some of these companies already have gotten a boost this year.