The demand for information security products and services will be fuelled by increasing frequency and intensity of cyber attacks against enterprises, government institutions, and consumers, as well as by the need of companies to comply with industry and government mandates.
The United States and Europe are expected to account for the lion’s share of the revenues in the global market, according to Information Security Products and Services: A Global Strategic Business Report, which profiles 482 companies.
Despite the recession, companies have continued to spend on information security, which has insulated the market from the downturn. The need to adhere to compliance requirements, growing risk of hackers and data breaches, and increased threat from laid off employees are compelling companies to continue investing in security solutions.
The market for security and vulnerability management products is expected to see the fastest growth among all information security software segments. Email security and security information and event management (SIEM) segments offer the maximum growth opportunity for the market, while enterprise anti-virus and web access management (WAM) segments will grow at a relatively slower rate.
While North America and Western Europe are leading markets, Eastern Europe, Middle East and Africa, Asia-Pacific and Latin America are expected to witness the fastest growth.
Growth in the information security services segment, the largest segment of the market, will be driven by demand for application and wireless security solutions, which include implementation, assessment, and architecture design. The rise in third-party service providers for various managed security services, application testing, and strategy planning is expected to be another key market driver.