Security Software Market to Hit Revenues of $23 Billion

The

independent

technology analyst finds that the strong growth will be

driven by the increasing threat to enterprises from organised gangs

and the changing business technology landscape.Ovum

principal analyst Graham Titterington commented: “The global

security software market will see strong growth during the next few

years, with revenues increasing from $16.76 billion at the end of

2010 to $23.3 billion at the end of 2015.

“One

of

the key drivers for this is the increasing threat to enterprises

from well-organised gangs from rival organisations, which want to

steal valuable data for their own gains. These organisations, which

include governments, have the resources to ramp up the threat level

and launch advanced and persistent attacks, which are difficult to

defeat.

“However,

changes

in business technology and operations are also creating new

security demands. The major changes that will drive the growth of the

market during the next few years are cloud computing, increased

mobility and business use of social networking. The security issues

these phenomena raise can be significant, and they need to be tackled

accordingly.”

According

to

Titterington, emerging trends such as greater interoperability of

systems between organisations, the use of shared user authentication

systems (particularly for enterprise customers and employees of

partner organisations) and increasing use of virtualisation

technology will also have an impact on take-up of security software.

He

believes much of the investment from enterprises will be in

encryption software, along with advanced encryption key management

environments, as these play a key role in the fight to protect

sensitive and valuable data from hackers. Other key investment

targets will be new types of anti-malware protection to counter the

huge threat the Internet poses.

Titterington

continued:

“Enterprises are becoming more aware of the threat posed

to them by hackers due to the increasing number of high-profile

attacks on companies such as Sony. These cases are highlighting the

potential damage that businesses face if sensitive and valuable data

is stolen.”

Ovum

has

also released a new security vendor rankings and market share

analysis, which shows that Symantec is the world number one, followed

by McAfee and then Trend Micro.