IT security to reach $30.1 bn in 2017: Canalys

Canalys expects the worldwide IT security market to grow at a compound annual rate of 7 percent, to reach $30.1 billion in 2017.

From a regional standpoint, Asia Pacific is forecast to increase 9 percent in 2013 as budgets continue to grow in the large economies of China, India and Japan as well as other countries across the region.

The largest and most mature market, North America, is projected to grow at a stable rate of 5 percent over the next five years. Latin America, on the other hand, continues to be a high-growth market and IT security spend is expected to increase by 15 percent in 2013, driven by large infrastructure projects. EMEA was the slowest-growing market in 2012, up just 3 percent.

“The sluggish growth was primarily down to the poor performance of the European market, which was hindered by economic uncertainty,” said Nushin Vaiani, analyst, Canalys.

We expect an increase in investment as businesses of all sizes begin to gear up for the impending changes to the EU data protection directive. This will work to boost overall growth in the EMEA market to 8 percent for full-year 2013 added Vaiani.

Canalys estimates that medium-sized businesses will be the biggest growth segment over the next five years, growing by a compound annual rate of 7 percent to reach $8.5 billion in 2017. Medium-sized businesses are prioritizing more of their IT budgets and resources to ensure their businesses are compliant with various data protection regulations.

These businesses are expected to invest heavily in all market segments, with network security leading the way, driven by the need for solutions with advanced capabilities in application control as well as greater scalability. Content security spend will be dominated by encryption and data-loss prevention (DLP) solutions due to the growing need to protect corporate data.

Security management investment is growing in importance among medium-sized businesses due to the need to have greater visibility across an increasingly varied infrastructure.

The growing bring-your-own-technology trend and the shift to virtual and cloud environments represent major developments that are forcing businesses to rethink their security posture and fueling product refresh cycles.

“Corporate data in today’s world resides in a fragmented ecosystem of on-premises, virtual and cloud environments. This shift will continue to drive security and infrastructure management investment over the next few years,” added Vaiani.

Also Read

Leave a Reply

%d bloggers like this: