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Security market flourishes even in recession
By siliconindia
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Tuesday, 14 July 2009, 00:25 IST |
2 Comments
Bangalore: Security software market has witnessed a double digit growth in 2008 to cross over $13 billion. According to research firm Gartner, as compared with 2007, software market reported an 18.6 percent growth with revenue of $11.3 billion in 2008. On the other hand, the report also says that the combined top five vendors' market share is gradually falling in favor of smaller players. This is a sign that security remains a dynamic market where smaller players and new entrants are able to challenge established leaders.
"Data security and privacy, along with the need to protect IT infrastructure from the ever increasing, sophisticated and targeted attacks, are among the key drivers fuelling the growth of IT security software spending," said Ruggero Contu, principal research analyst, Gartner to Times of India. Such impressive results even during recession, show that security still remains top priority for firms.
In a sector where there are many companies who are fighting for the top spot, Symantec still continues to dominate with 22 percent of overall market share and revenue of $2,969 million. But the overall market share for Symantec came down from 24.4 percent in 2007. McAfee has reported the strongest results with revenue increase of 20.5 percent and revenue of $1,476 million. Trend Micro was in the third sport with 2008 revenue of $939 million. While IBM and EMC occupied the fourth and fifth spot respectively.
Appliance-based products that recorded the fastest growth in 2008 were event management (SIEM), e-mail security boundary, security information and secure web gateway appliance. The report added that growth in Asia-Pacific region has jumped by 30 percent, although North America and Western Europe continued to lead the market with shares of 46.4 percent and 29.9 percent respectively. But the report also says that their market share is decreasing in the last few years in favor of the emerging regions.
