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
Best business endpoint protection software
20 Feb 2017
Want to get serious about protecting your systems and data? Start with one of these business-grad...
Fake ATO emails spreading malware
20 Feb 2017
A "huge run" of fake ATO emails is delivering malware, including ransomware and keyloggers, ...
Qnap TS-451+ review: a four-bay NAS with speed to burn
17 Feb 2017
Looking for a network attached storage device with plenty of capacity, speed and features? The ...
How to secure your Office 365 data
17 Feb 2017
Microsoft has released Office 365 Secure Score and a video explaining how to use it to keep your ...
Top seven internet security suites of 2017
17 Feb 2017
We put the latest internet security software suites to the test, so you can judge for yourself ...

Latest Comments

From our Partners

PC & Tech Authority Downloads