Economic Recession Pushes IT Security

As per our latest research report “Global IT Security Market Forecast to 2013”, IT spending budget in almost all countries worldwide has gone down due to recession, but at the same time increasing numbers of cyber attacks in all sized organizations has forced them to spend more into their IT security infrastructure. In present scenario, purchase of IT security solution is not optional for any enterprises or consumers because of growing numbers of attacks that can cost millions of dollars to a company. Therefore, any enterprise or government business cannot afford to delay its security solution buying decisions. Owing to this, global IT security spending registered positive growth in 2009 and touched an estimated value of US$ 60 Billion. The market is further expected to grow at a CAGR of over 12% between 2010 and 2013.

We have done extensive research of the global IT security market on regional as well as country level to identify various factors that will continue to drive spending on IT security products and services over the forecast period (2010-2013). We have also recognized the verticals that are expected to spend more into IT security in near future.

The report categorizes the global IT security market into three segments: IT Security Appliances, IT Security Services and IT Security Software. Our research indicate that there will be high demand for security services in future in comparison of security appliances and security software, as verticals such as government and banking sector are expected to spend more on IT security services. Further, a new method - Managed Information Security Services (MISS) - which is expected to gain higher interest from all sized companies, is anticipated to stimulate growth into the security services market in future.

Besides this, our report “Global IT Security Market Forecast to 2013” provides an extensive research and rational analysis along with reliable statistics of the global IT security market. The report provides forecast for each country’s IT security industry outlook. It also details on various ongoing and emerging trends in the IT security market worldwide, thus helping the IT security vendors to identify opportunities. We have also identified certain key restraints, which are blocking the growth of the industry.