IT Security Industry To Expand Tenfold: Spending on IT security is poised to grow tenfold in ten years. Every organization from the largest oil and gas refiner, to the smallest bank has underspent on security. Classic risk management methodologies call for trade-offs in security. Unlikely events, Black Swans, are not accounted for. This protect-against-the-known philosophy is what led to most defense contractors and even the Department of Defense being completely vulnerable to sophisticated targeted attacks from foreign spy agencies. The recent rapid growth of technology vendors to ward off cyber attacks is a blip compared to what is coming.