Information Security Products & Services: A Global Strategic Business Report
San Jose, CA (Vocus) October 18, 2010
Cyber crime has witnessed a considerable rise during the economic recession, due to the decreased focus of enterprises on computer and cyber security coupled with the growing desperation of people to generate quick income. Consequently, the present economic meltdown has had limited impact on the global information security market, as enterprises seek enhanced protection against potential breaches or data leakage, particularly incidents brought on by employees leaving the organization due to the downturn.
Several companies experienced severe budget cuts on security function during 2009 and 2010, which enhances the risk of threat from cyber criminals and hackers. Growing popularity of social networking sites, and increasing availability of company infrastructure ‘in the cloud’ have exposed global enterprises to higher levels of security threats. Organizations are focusing on information security compliance remediation as one of the topmost security initiatives for ensuring conformity with increased regulation and legislation. Increased expenditure in the fields of compliance and auditing systems is not only attributed to mandates, but also led by the need to be able to evaluate the losses from malicious attacks or accident data leaks.
The United States and Europe account for a lion’s share of the revenues in the global market, as stated by the new market research report on information security products & services. Despite the recession, US-based enterprises continue to focus on security provisions, as a result of which the information security market has exhibited relative immunity. The need for adhering to compliance requirements, growing risk of hackers and data breaches, and increased threat from laid off employees are compelling companies to continue investing in security solutions.
The market for security & vulnerability management products is expected to witness fastest growth among all information security software segments. Email security and SIEM segments offered the maximum growth opportunity for the market, while enterprise anti-virus and WAM segments grew at a relatively slower growth rate. While North America and Western Europe are leading markets, Eastern Europe, Middle East and Africa, Asia-Pacific and Latin America are expected to witness fastest growth. The information security software market in Europe is forecast to reach US$9.5 billion by 2014.
The information security services segment represents the largest segment of the information security products and services market. Growth in the market is driven by the stimulating demand for application and wireless security solutions, which include implementation, assessment and architecture design. Rise in engaging third-party service providers for various managed security services, application testing, and strategy planning of various security issues are the other key market drivers.
The global information security products market is highly competitive. Performance, price, ease of use, security effectiveness, technical features, manageability, scope of product offerings, brand name, distribution channels and customer support and service are the key competitive factors driving the overall network security solutions market. Major players profiled in the report include ActivIdentity Corporation, Check Point Software Technologies Ltd, Cisco Systems Inc., CA Technologies Inc., F-Secure Corporation, IBM Internet Security Systems, Juniper Networks Inc., McAfee Inc., Novell, SafeNet Inc., Sophos Plc, Symantec Corporation, Trend Micro Incorporated, and WebSense Inc., among others.
The report titled “Information Security Products & Services: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a strategic review of the industry, impact of recession, key market trends, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report provides annual sales estimates and projections for Information Security Products & Services market for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Information_Security_Products_and_Services_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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