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Internet Security spending set to soar
August 11, 2003
Companies will spend $13.5bn on security products in 2003, up from $7.1bn last year, according to analyst Datamonitor.
Much of the spending will go on intrusion detection systems, vulnerability assessment solutions and security management tools, with security spending in EMEA growing at a compound annual growth rate of 18 per cent.
Despite being the most mature technologies, antivirus and firewall solutions have seen strong growth because of high-profile virus outbreaks. And Datamonitor suggested that companies using the 'layered' security model will drive further spending in this area, as businesses embed more technologies at the perimeter, within the network, on servers and on devices such as PCs and PDAs.
"This will increase sales of more traditional security solutions as well as encouraging greater sales in complementary markets such as threat protection and content filtering," said the analyst. Datamonitor explained that, as companies increase the number of products they use, management becomes a problem, and security administrators will look for technologies which help them cope with the thousands of security alerts generated daily.
This, along with the demand for compliance with legislation and regulations, will fuel the need for security management tools. Datamonitor's Enterprise Security Product Market Report said: "Vendors of solutions such as threat management and security policy compliance products have responded to this need by pushing more sophisticated solutions to help reduce IT departments' workload.
"By bringing with it a powerful return on investment argument, the market for security management tools generated global revenues of $371m in 2002." The intrusion protection and vulnerability assessment market, which generated revenues of $642m in 2002, will grow to $1.3bn by 2006 as vendors create far-reaching 'threat protection' systems.
Ian Williams, enterprise security team programme manager at Datamonitor, said in a statement: "While the market for other products such as intrusion protection and vulnerability assessment solutions will see stronger growth over the next few years than previously experienced, they will achieve greater success as part of a more complete security solutions package than by themselves."
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