Steady Growth Projected for Global Security Market
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Steady Growth of GVSM
The compound annual growth rate of the global security and vulnerability management market (GVSM) will be 9% through 2016, according to the TechNavio report. -
Multiple OSs Responsible
A major factor contributing to the market's growth is the increasing use of diverse operating systems. -
The Rise of BYOD
Mobile devices at work are also affecting the GSVM market, but open source solutions may challenge its growth. -
GSVM Revenues
In 2012, U.S. revenues were $4.1 billion and are projected to reach $5.9 billion by 2016. -
Americas Lead GSVM Market Share
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%. -
Projected Market Share in 2016
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%. -
Key GSVM Market Drivers
The top drivers include increases in complexity in enterprise ISs, the demand for software applications and awareness of security issues and threats. -
Top GSVM Market Challenges
The key GSVM market challenges include expensive security solutions and increased competition among vendors. -
New Technologies Drive GSVM
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. -
IBM Has Largest Market Share
The five top vendors cottrol 32% of the market. They are: IBM Corp., 11%, Hewlett-Packard, 9%, EMC Corp., 5%, Symantec, 3%, McAfee, 3%
Increasing complexity in enterprise information systems is driving the growth of the global security and vulnerability management market (GSVM), according to London-based research firm TechNavio. The TechNavio report says open source software solutions are a serious challenge because they enable customers to detect and fix security and vulnerability issues themselves, without the cost of having to purchase the software. Despite such challenges, the GSVM market has an "immense potential to grow rapidly" because other trends, like mobile devices in the workplace are negating the effects of the challenges, says TechNavio. Also aiding GSVM's rise is the use of mobile devices for payments and online banking because their usage will increase the need for a secure way to verify the identities of those authorizing transactions. The report covers the Americas; Europe; the Middle East and Africa; and Asia and Pacific regions; key vendors; and answers questions about future market size, the GSVM growth rate, and key market trends. Twenty CEOs and managing directors provided in-depth interviews for the report. For the full report, "Global Security and Vulnerability Management Market 2012-2016," click here.