Spending For Cybersecurity To Skyrocket In Coming Years

Spending on cybersecurity is expected to take a big jump as company after company reels in the wake of massive data breaches, Reuters reports. According to ABI Research, worldwide IT security spending was at $70 billion in all sectors last year, but by 2010 it is is likely to increase to as much as $109 billion just in critical infrastructure, like banks, energy and defense. Increasingly sophisticated attacks mean traditional defenses like firewalls and antivirus software are no longer enough. The threat is insidious; attackers can lurk inside a network for half a year before being detected, according to one expert.