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
Google just made two-step authentication a lot easier
23 Jun 2016
No more SMS or email codes – you can now sign into Google sites with one phone tap.
Does Mark Zuckerberg put tape over his webcam?
23 Jun 2016
The Facebook boss appears to use a low-tech way of protecting his privacy.
New budget security camera has a 180-degree lens
9 Jun 2016
D-Link’s DCS-2630L captures natural-looking wide-angle images, allowing one camera to ...
Xero offers two-step authentication
7 Jun 2016
The cloud accounting system makes it harder for the bad guys to steal your business data.
Check Point brings advanced security to small business
7 Jun 2016
The security vendor has released two new appliances for small businesses that need more advanced ...

Latest Comments

From our Partners

PC & Tech Authority Downloads