Global security software market is expected to grow 8% in 2009, with integrated multi-products coming up strongly.
Gartner Inc has projected the worldwide security software market to total $14.5 Billion in 2009, up 8% from 2008, reported
Sify business. The growth rate of the market was recorded at 19% in 2008.
The enterprise security software market, comprised of various segments like e-mail security boundary, user provisioning, and endpoint protection platform, is anticipated to be worth $10.9 Billion, touching a growth rate of 9% this year. The security software market will grow 13% in 2010, with revenue totaling $16.3 Billion.
The biggest growth opportunities in mid-term will emerge from SaaS (Software as a Service), SMBs (Small and Medium Businesses) and appliance-based offerings. SMBs are presently in the security catch-up mode when compared with large companies, and thus they spend a higher share of their budgets on IT security.
In addition to this, end-users are steadily getting closer to better-integrated multi-products, especially in fields like identity and access management as well as endpoint security. Also, according to a market research report “
Global IT Security Market Forecast to 2013” by
RNCOS, the IT security threat landscape is flourishing amid the worldwide recession due to increasing staff layoffs as well as reductions in IT budgets that are exerting an immense pressure on IT administrators to precisely configure and manage the corporate systems.
In terms of total software revenue, consumer security will remain the largest segment in 2009, representing 25% of the overall market. According to Gartner, the segment will account for $3.6 Billion, representing 4% increase in 2009.
Meanwhile, several high-profile acquisitions were seen in 2008, including McAfee acquiring Secure Computing and Symantec picking up MessageLabs. In the coming months, more consolidation could be seen.
According to a Research Analyst at
RNCOS, “Despite the impact of economic recession, the worldwide security software market will continue remaining strong in 2009, with security continuing to be a vital area where tremendous reductions in budget can’t be afforded. The companies offering strong integrated products are likely to reign the roost.”
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