About 67 per cent of information technology executives in Asia say they will increase spending on security, compared with a global average of 64 per cent in PwC's survey of 8,000 companies conducted this year.
There are four key areas driving this and 1SecureAudit has already figured this out:
Gartner and IDC also have some interesting predictions for growth in these areas.
Worldwide technology spending, including on telecommunications, will grow by 5.4 per cent to US$2.38 trillion (HK$18.56 trillion) this year, according to research firm Gartner.
However, global spending on business continuity and IT security solutions, at US$70 billion last year, is growing much faster, and will reach US$118 billion by 2007, according to International Data Corporation figures.
Operational risks are at the heart of all of this growth, especially in ASIA where Basel II is taking hold.
``Governance and compliance issues are driving the need for information security,'' partner Rick Heathcote said. ``In Hong Kong, we have observed that in order to comply with new laws and regulations such as Basel 2 [an international standard for capital requirements], personal data privacy laws and anti-money laundering obligations, companies are recognising the need for enhanced security and internal control.''