Security threats continue to increase as more companies provide external access to their internal systems via the Internet for things like electronic commerce, prompting many companies to increase spending on Internet security software, according to a new study.
The worldwide market for Internet security software grew from $US2 billion in 1997 to an estimated $US3.1 billion in 1998, according to a study released yesterday by market analyst International Data Corporation (IDC) in Framingham, Massachusetts.
The market for Internet security software is expected to reach $US4.2 billion worldwide in 1999, and to grow to $US7.4 billion in 2002, according to IDC, which based the study on a survey of 300 companies with more than $US100 million in annual revenues.
In general, the Internet software security market is expected to post a compound annual growth rate in terms of revenues of about 30 per cent between now and 2002, IDC said. The firewall segment of the market is expected to have the fastest growth, with an estimated 40 per cent compound annual growth between now and 2002, IDC said.
Antivirus software will be the largest segment of this market in 2002, when it will account for almost half -- $US3 billion -- of the worldwide revenues from Internet security software, IDC said. Survey respondents suffer an average of 81 viral infections in a 12-month period, a situation that affects just over 12 per cent of their workforce.
Other segments of this market, as defined by IDC, are encryption software and software for authorisation, authentication and administration.
IDC, in Framingham, can be reached at http://www.idc.com/