Locks and Security News: your weekly locks and security industry newsletter
17th April 2024 Issue no. 701

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Global security software market worth $19.2 billion in 2012

Global security software market revenues rose 8 per cent to $19.2 billion last year, spurred by practices like bring your own device (BYOD), among other issues, global research firm Gartner claims. Worldwide revenues from security software market totalled $17.7 billion in 2011, the firm added.

"The evolution of new threats and working practices, such as bring your own device (BYOD), is driving spending on security," according to Research Director Ruggero Contu.

The 2012 security market saw a continuation of increasing demand for consumer and enterprise security tools as McAfee's high growth of 37 per cent boosted the market's overall growth rebound in 2012.

Spending on security software is also influenced by the evolution of new threats and working practices, Contu added.

"For example, as companies increase the mobility of their workforce, this situation raises new security concerns and requirements. Growing demand for remote access requires organisations to safeguard off-premises applications and data, as well as an array of new client devices."

"In addition, the rapid adoption of virtualisation in the SMB (small and medium business) market is driving interest in security solutions targeting virtual environments.

"Security continues to be a top priority across all technology categories in the SMB market. The rise of midmarket demand presents a new challenge for participants in the security space, as SMB requirements are different from those of larger enterprises."

Security buyers from SMBs are increasingly considering security as a service to serve as an alternative for deploying security technologies, particularly for areas such as email and web security.

Such requirements are leading to market consolidation and more competitive pricing, as established players acquire pure-play cloud-based specialists across the security landscape.

19th June 2013