Web security market to hit £29bn
News Article - Friday, June 1, 2007 14:01
Filed under: Industry news
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The value of the global IT security market is to grow to $58 billion (£29 billion) by 2010, according to research by ReportBuyer.com.
Expecting the steady 16 per cent growth witnessed by the sector since 2005 to continue, the website, claims that the market's steady growth is down to the rising IT security requirements of customers such as government installations, financial services and healthcare providers.
Not only are different organisations awakening to the need for IT security but the nature of security concerns is also changing.
Currently firewalls and content management represent the biggest share of the market but the report says that unified threat management solutions will account for more of the market as systems combat "zero-day" attacks with "defence-in-depth" strategies.
According to the research the US and Europe dominate the market at the moment though, with the development in the Asia Pacific region, India and China are expected to increase their share of the market.
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