Why IT Security Spending Is Booming

Now that we live in a world full of subscriptions and cloud services, security is on the rise. Security has always been a hot topic – but in 2015 more so than ever. Since the outbreak of widespread security breaches such as Premera, Target, Ashley Madison, and eBay, it should be no surprise that companies are investing their resources on security.

IT Security

According to Gartner; information security spending will increase by 4.7 percent by the end of 2015.

The cyber security market is estimated to grow $170 billion (USD) by 2020! When it comes to security, think layers. When it’s cold, you layer up. A typical front door consists of a lock on the knob, then a deadbolt – the same applies to IT security. That’s why Cohn Consulting Corporation provides a myriad of solutions, such as:

  • Firewalls
  • Anti-virus software
  • Spam filtering software
  • Web content filtering
  • Data backup

The key takeaway is having an experienced managed service provider or engineer who’s on your team, because cyber attacks strike right when you least expect it. Businesses rely heavily on their reputation, and when word spreads–the road to recovery is extremely long.

We recommend proactive and detective measures, and we work alongside our clients to minimize threats. Along with this, it’s recommended that management teams are driving cyber strategies to boost awareness.


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Forty-three percent of attacks are aimed at SMBs, but only 14% are prepared to defend themselves (Accenture).

More than 33 billion records will be stolen by cybercriminals by 2023, an increase of 175% from 2018.

The cost of cybercrime is predicted to hit $10.5 trillion by 2025, according to the latest version of the Cisco/Cybersecurity Ventures “2022 Cybersecurity Almanac.”.

40% of businesses will incorporate the anywhere operations model to accommodate the physical and digital experiences of both customers and employees (Techvera).

The three sectors with the biggest spending on cybersecurity are banking, manufacturing, and the central/federal government, accounting for 30% of overall spending (IDC).

The internal team was energized. With the Level 1 work off its plate, the team turned its attention to the work that fueled company growth and gave them job satisfaction.

Large Healthcare Company

It takes an average of 287 days for security teams to identify and contain a data breach, according to the “Cost of a Data Breach 2021” report released by IBM and Ponemon Institute.

The average cost of a data breach in the United States is $8.64 million, which is the highest in the world, while the most expensive sector for data breach costs is the healthcare industry, with an average of $7.13 million (IBM).

We did a proof of concept that met every requirement that our customer might have. In fact, we saw a substantial improvement.

Steve Fout, VP Sales, Godlan, Inc

We did everything that we needed to do, financially speaking. We got our invoices out to customers, we deposited checks, all the things we needed to do to keep our business running, and our customers had no idea about the tragedy. It didn’t impact them at all.

Denise Koontz, CFO, Got You Floored

“We believe our success is due to the strength of our team, the breadth of our services, our flexibility in responding to clients, and our focus on strategic support.”

Dynamic Quest

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