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Study: Half of Businesses Will Hire IT Security Contractors by 2018

Growth opportunities most significant for DBAs and Network / Security Consultants.

CHICAGO, Aug. 26, 2014 /PRNewswire/ -- A recently published study from Gartner predicts that, by 2018, half of all businesses will hire IT security contractors to manage data security threats. The prediction is based on the finding that spending on IT security has risen 7.9 percent, to $71.1 billion, since 2013 and is likely to grow another 8.2 percent, to $76.9 billion, in 2015.

Notably, much of this increase comes from firms enlisting help from outside IT security contractors, meaning that growth opportunities are most significant for database administrators (DBAs) and network and security consultants.

The recent spate of highly publicized data breaches has led to increased awareness of data security threats among businesses that might otherwise have viewed data protection as an unnecessary expense, according to the Gartner study. Data loss prevention expenditures have seen a particularly large jump this year, with spending 18.9 percent higher than in 2013. In addition, companies are investing in cloud computing and security for mobile technology – but often not by hiring an in-house IT team.

"Businesses are waking up to the reality that data breaches are a serious threat to their bottom line," said Ted Devine, CEO of TechInsurance. "But not everyone can afford a complete IT department or even a full-time IT employee. The solution a lot of businesses are discovering is working with service providers on a contract basis, which means big opportunities for small technology firms offering data security services."

One other significant shift noted by the Gartner study is a move in businesses toward seeking managed security services that offer breach response and risk reduction services. This shows that businesses are starting to get the message that data breaches are a matter of "when," not "if," and are focusing on how to maintain operations after a breach occurs.

For tips on how DBAs and network and security consultants can take advantage of the growing demand for IT security consulting services, visit the TechInsurance blog:

About TechInsurance, an insureon Company

TechInsurance offers essential insurance policies, including Professional Liability and General Liability Insurance, to DBAs, network administrators, and other IT consultants and small technology businesses. Founded in 1997, the company connects IT businesses to multiple top-rated insurance providers via a single online application.

CONTACT: Betsy Gregg, 224-595-3323, [email protected]

SOURCE TechInsurance

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