Security services vendors in line for big bucks

Security services vendors in line for big bucks

Global spending on security services is predicted to reach $35.1 billion in 2011.

Worldwide spending on security services will peak at $35.1 billion this year, an analyst firm has claimed.

This is up from $31.1 billion in 2010, Gartner said, forecasting the market will continue to grow to $38.3 billion in 2012 and around $49.1 billion in 2015, Gartner said.

"The security services market has changed rapidly over the last several years with a growing number of security technology providers offering their technologies as services, and customers often preferring services to save on operational costs," said Lawrence Pingree, research director at Gartner.

Gartner expects growth in each area of services, including consulting, development and integration, IT management, software support and hardware maintenance and support.

The IT management segment of security services will almost double, jumping from $8 billion to $14.9 billion by 2015, the analyst firm said.

North America is the largest market for security services spending, with revenue predicted to exceed $14.6 billion in 2012. Western Europe, spending will reach $11.9 billion, whilst in Asia, spending will total $4.7 billion.

Gartner is encouraging smaller vendors to invest in strategies that stay relevant in emerging markets, as the big players already have strong positions in developed nations.

"For the larger, more-established security services providers that already have an extensive North American presence, it may make the most sense to focus efforts on regions with higher growth rates and less overall services market revenue penetration," Pingree added.

This article originally appeared at itpro.co.uk

Source: Copyright © ITPro, Dennis Publishing

See more about:  security  |  services  |  vendors  |  line  |  bucks  |  securitysoftware
 
 
Latest articles on BIT Latest Articles from BIT
Malware discovered in online ads on popular sites
9 Dec 2016
Eset has warned that online ads are delivering images containing malware that runs without user ...
Are you certain your documents are being safely destroyed?
8 Dec 2016
So you've decided it's too much time and trouble to do your own shredding. Here's what you ...
Protect confidential files with SafeErase Professional 11
6 Dec 2016
O&O Software has released the latest version of its secure file and history eraser for Windows.
Malware takes over one million Google accounts: report
2 Dec 2016
How to tell if your account has been infected by Gooligan, the malware variant identified by ...
Boost your NAS capacity with Seagate IronWolf
29 Nov 2016
Seagate's new IronWolf Pro drive means each bay of your network attached storage device can ...

Latest Comments

From our Partners

PC & Tech Authority Downloads