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APEJ IT Security Market to Perform Strongly in 2010
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APEJ IT Security Market to Perform Strongly in 2010

Jan 28, 2010
IT security market in APEJ is expected to grow substantially this year due to high demand for security appliances on the backdrop of mounting security threats.

According to IDC, this year, the Asia Pacific region excluding Japan (APEJ), is anticipated to perform much better in the IT security market, as per the news published by MIS ASIA.

Growing sophisticated threats as well as rising management expenses troubling each IT organization are fuelling the growth of the IT security market. New security threats are surging robustly, both in number as well as in complexity. These attacks are basically identity fraud and illegal access to networks and corporate systems, insider sabotages and the attacks, which take advantage of flaws present in the applications.

Security solutions are also being driven by certain regulatory compliance requirements. While collaborating with business partners worldwide, it is mandatory for companies to stick to international standards, regulations and best practices.

SVM (security and vulnerability management) market segment is an important growth area throughout the Asia Pacific region, according to the IDC. It is expected that among all the segments of the IT security industry, the SVM market will register the largest growth of 19% in 2010, reaching US$ 115.44 Million.

In terms of growth rate, the SVM market is followed by the SCTM (secure content and threat management) market. This market is anticipated to shoot up by 18.4% and reach US$ 1.13 Billion. Then comes the IAM (identity and access management) market that is projected to expand by 15.2% and generate revenue worth US$ 326.38 Million.

According to a market research report titled “Global IT Security Market Forecast to 2013” from RNCOS, the overall IT security market in the APEJ is projected to grow with 17%-18% CAGR during 2008-2013. Also, as IT security appliances are considered by enterprises as an option to meet their business requirements, demand for these appliances will experience considerable growth in future. These security appliances are highly preferred by the organizations due to advantages such as plug-and-play, ability to be managed centrally, and easy-installation.

As far as products are considered, VPNs/Firewalls continue to be the leading technology products; however, IPS, UTM, and content management are forecast to experience modest growth in future.

According to a Research Analyst at RNCOS, “Even though the organizations are likely to spend increasingly on IT security, cost saving will continue to be prime focus for most of the companies. Companies must deploy a comprehensive security solution which is within the IT security budget of the organizations.”

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