Security Software Market Grew 7.5% In 2011: Gartner

April 27th, 2012 by Amrinder Leave a reply »

Worldwide security software revenue totalled $17.7 billion in 2011, a 7.5 percent increase from 2010 revenue of $16.4 billion, according to Gartner, Inc. Small or midsize enterprise (SME) demand, advanced persistent threats and compliance were among the main drivers.”Growth in the 2011 security market reflects a continuation in demand for consumer and enterprise security tools,” said Ruggero Contu, Research Director, Gartner. “However, despite overall solid growth, some regions did not experience the high-double-digit growth of emerging Asia/Pacific and Eurasia, which has been driven by ‘greenfield’ projects and buoyant economies. Western Europe remained the laggard because of the region’s uncertain economic situation.”The security software market continued to show resilience at a time of IT budget restrictions and despite Intel writing down considerable revenue following its McAfee acquisition, which prevented the market from reaching double-digit growth.Retaining its market share lead in both the consumer and enterprise security space, Symantec recorded an annual growth rate of 17 percent, reaching $3.7 billion in 2011 (see Table 1). Symantec has continued to expand is offering beyond the traditional endpoint security market by leveraging its competency and mind share in the storage/data backup space and by putting a new focus on securing data, both at rest and in motion, through its data loss prevention (DLP) and encryption products.

Source:http://www.moneycontrol.com/news/technology/security-software-market-grew-75-in-2011-gartner_697306.html

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