Gartner said the increase in spend is due to government initiatives, more legislation and highly publicised data breaches.
But because of the strength of the US dollar, pricing in some regions will rise by as much as 20 percent and that will force customers to reduce spending towards the end of this year.
There will be a rebound in spending in 2016, Gartner predicts.
Elizabeth Kim, a research analyst at the firm, said that interest in security technologies is because of cloud, mobile computing and the internet of things.
Vendors will benefit from an increased interest in endpoint detection, threat intelligence and cloud security tools, including encryption.
She predicts that enterprises will invest in network “sandboxing” coupled to network firewalls and content security packages. These “sandboxes” allow enterprises to detect threat outside of the core networks but are seen as too expensive to midsize enterprises, or enterprises which don’t have enough dedicated IT staff.