Security Software Market to Hit US$4 Billion in Asia-Pacific

The Asia-Pacific security software market will reach revenues of $4 billion in 2015, a compound annual growth rate of 10 percent from the $2.49 billion it hit in 2010, predicts Ovum.

 

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 notes that the global security software market will see strong growth during the next few years, with revenues increasing from $16.76 billion at the end of 2010 to $23.3 billion at the end of 2015.

 

"Asia-Pacific will experience stronger growth because of the pace of technological advance in the region and the growing level of security awareness," says Titterington.

 

“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."

 

The competitive market in the region makes this threat a particular concern, stresses Titterington.

 

Changes in business technology and operations are also creating new security demands.

 

According to Titterington, 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.

 

Titterington adds that 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.

Titterington believes that 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.

 

“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,” says Titterington.

 

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 ARTICLES ON IT SECURITY

Suggested Articles

Some of you might have already been aware of the news that Questex—with the aim to focus on event business—will shut down permanently all media brands in Asia…

Some advice for transitioning into an advisory role

Global risks are intensifying but the collective will to tackle them appears to be lacking. Check out this report for areas of concern