Security software tops USD23 billion
SOFTWARE| Sept. 14, 2011, 12:43 p.m.
The global security software market will reach revenues of USD23.3 billion in 2015, a compound annual growth rate of 6.8% from the USD16.8 billion it hit in 2010, predicts Ovum.
The independent technology analyst finds that the strong growth will be driven by the increasing threat to enterprises from organised gangs and the changing business technology landscape.
Ovum principal analyst Graham Titterington said: “The global security software market will see strong growth during the next few years, with revenues increasing from USD16.76 billion at the end of 2010 to USD23.3 billion at the end of 2015.”
“One of the key drivers for this is the increasing threat to enterprises from well-organised gangs from rival organisations, which want to steal valuable data for their own gains. These organisations, which include governments, have the resources to ramp up the threat level and launch advanced and persistent attacks, which are difficult to defeat.”
“However, changes in business technology and operations are also creating new security demands. The major changes that will drive the growth of the market during the next few years are cloud computing, increased mobility and business use of social networking. The security issues these phenomena raise can be significant, and they need to be tackled accordingly.”
According to Titterington, emerging trends such as greater interoperability of systems between organisations, the use of shared user authentication systems (particularly for enterprise customers and employees of partner organisations) and increasing use of virtualisation technology will also have an impact on take-up of security software.
He believes much of the investment from enterprises will be in encryption software, along with advanced encryption key management environments, as these play a key role in the fight to protect sensitive and valuable data from hackers. Other key investment targets will be new types of anti-malware protection to counter the huge threat the Internet poses.
Titterington continued: “Enterprises are becoming more aware of the threat posed to them by hackers due to the increasing number of high-profile attacks on companies such as Sony. These cases are highlighting the potential damage that businesses face if sensitive and valuable data is stolen.”
Ovum has also released a new security vendor rankings and market share analysis, which shows that Symantec is the world number one, followed by McAfee and then Trend Micro.
MORE SOFTWARE NEWS
MTN Business partners SMEasy to give entrepreneurs access to easy accounting solutionsMTN Business, in partnership with online accounting tool SMEasy, today announced the launch of an agile, fit for purpose business management and easy accounting solution for small business owners in Kenya – with other markets to follow. Read More
You need to integrate your business solutions. Here’s whyBy integrating business processes and systems, organisations can reduce manual administration and free up time to spend on more value-adding activities, says Sage. Read More
Networks Unlimited event highlights SimpliVity's new Omnistack SoftwareLeading data protection focused distributor invites hyperconverged vendor to discuss disaster recovery and data protection. Read More
Arbor Networks APS earns recommended rating and highest score for Overall Security EffectivenessThe Arbor Networks APS 2800 on-premise distributed denial-of-service (DDoS) protection solution earned a “Recommended” rating and the highest Overall Security Effectiveness score in the first ever NSS Labs’ DDoS Prevention Test Report. Read More
Arbor Networks APS earns recommended rating and highest score in new NSS Labs DDoS Test ReportArbor Networks Inc., the security division of NETSCOUT, has announced that the Arbor Networks APS 2800 on-premise distributed denial-of-service (DDoS) protection solution earned a “Recommended” rating and the highest Overall Security Effectiveness score in the first ever NSS Labs’ DDoS Prevention Test Report. Read More
ProLabs announces range of multicode products compatible with key OEMsProLabs, the leading global provider of network infrastructure and connectivity products, has announced the launch of a new range of multicode compatible optical transceivers. Read More
Agron boosts salesforce with mobile CRM from Sage EnterpriseAgron, one of the leading providers of fertiliser to South Africa’s agricultural sector, has implemented the Sage CRM solution from Sage Enterprise. Read More
Ecowize boosts business efficiency by migrating to Sage 300Ecowize, one of South Africa’s leading hygiene and sanitation service providers, has improved productivity and efficiency by implementing the Sage 300 business management system. Read More
Meatco deploys Sage X3Meat Corporation of Namibia (Meatco) has implemented the Sage X3 business management solution as part of its strategy to streamline its business by consolidating, automating and integrating its systems and processes. Read More
B.Braun takes charge of production planning with Sage 300 ManufacturingB.Braun Medical Products South Africa, a leading manufacturer of medical products, has implemented Sage 300 Manufacturing and Production Planning modules in an effort to streamline and automate its business processes. Read More
FEATURED STORYGovernment should encourage youths in ICT early
Youths should be given more encouragement to develop their ICT skills, an 11-year-old app developer told Kokumo Goodie.
BEST READ NEWS
IN DEPTHIBM Opens First Cloud Data Centre in South Africa
IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.
COMPANY NEWSTigo, JI and GES equip teachers on child online protection initiative
Tigo, in partnership with J Initiative (JI), a youth focused non-governmental organisation in Ghana, have committed to protecting children online through policy advocacy, awareness creation, public education ...