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Wednesday, 18 August 2010 12:04

Security software market to grow by 11 per cent

Written by Nick Farell
y_analyst

Gartner has spoken
Soothsayers and readers of tarot cards working for the analysts Gartner group have been watching the flight of swallows and come the conclusion that the security software market will grow by 11 per cent this year.

According to the outfit , security software is always going to be in demand. Worldwide security software revenue forecast is likely to surpass US$16.5 billion in 2010, this marks an 11.3 per cent increase from the 2009 revenues of US$14.8 billion.

Identity and access management have been the key growth areas. Gartner said it takes around eight per cent of company security budgets. Ruggero Contu, principal research analyst at Gartner, said: “Most segments of the security software market will continue to grow over the next few years, although a significant degree of variation is expected between the more-established and less-mature technologies.

“Security software vendors that have a balanced mix of channel, new licence and maintenance revenue streams and flexibility in contractual terms, such as Software-as-a-Service (SaaS), open source and outsourcing, have the strongest options for continued growth and to even out the risk,” he said.

Matthew Cheung, senior research analyst at Gartner, predicted that virtual products and appliances will continue to overtake traditional software licensing over the next six to 12 months.

Nick Farell

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