Steady Growth Projected for Global Security Market

Steady Growth Projected for Global Security Market

The compound annual growth rate of the global security and vulnerability management market (GVSM) will be 9% through 2016, according to the TechNavio report.

A major factor contributing to the market’s growth is the increasing use of diverse operating systems.

Mobile devices at work are also affecting the GSVM market, but open source solutions may challenge its growth.

In 2012, U.S. revenues were $4.1 billion and are projected to reach $5.9 billion by 2016.

The Americas led in terms of market share with 44% in 2012, followed by Europe, the Middle East and Africa with 30%. The Asia and Pacific market share is 26%.

The Americas are projected to lose about 4% market share and drop to 40%, the European and Middle East markets will remain almost the same at 32%, and the Asian and Pacific markets will increase by less than 3% to 28%.

The top drivers include increases in complexity in enterprise ISs, the demand for software applications and awareness of security issues and threats.

The key GSVM market challenges include expensive security solutions and increased competition among vendors.

In addition to BYOD in the workplace, important market trends include increased virtualization and cloud computing, next-generation LTE wireless networks, and increased information flow across networks.

The five top vendors cottrol 32% of the market. They are: IBM Corp., 11%, Hewlett-Packard, 9%, EMC Corp., 5%, Symantec, 3%, McAfee, 3%