The global security market is set to surpass $US16.5 billion in revenue in 2010, according to an analyst firm.
In Australia, the market is forecast to grow 17.8 per cent, analyst firm, Gartner, indicated.
The Asia-Pacific region is expected to reach $US1.52bn in 2010, up 20.6 per cent from the previous year.
The consumer security software arena remains the largest segment, with 2010 revenue projected to reach $US4.2bn, up from $US3.9bn in 2009. The endpoint protection platform (enterprise) market sits in second spot, with revenue on pace to reach $US3bn in 2010, slightly up from $US2.9bn in 2009.
Gartner stated the security software market continues to benefit from prioritisation and demands related to compliance requirements. This also includes the need to keep up with ever-increasing sophistication and volume in the threat landscape.
Purchasing habits are also in a for a shift, with more products being delivered as-a-service and as an appliance rather than traditional software licensing methods, Gartner senior research analyst, Matthew Cheung, said.
“Delivery as a suite in sub-segments such as enterprise endpoint security, identity and access management (IAM), and Web security will be the most prevalent product delivery types,” Cheung said. “Despite major vendors seeking to consolidate, opportunities exist for smaller niche players and product specialisation, and local expertise is expected to remain a valued factor.”
Compliance remains an important driver across many segments, particularly user provisioning, security information and event management (SIEM) and mobile data protection, Gartner said.
"The growing sophistication of the threat landscape will push organisations and consumers to invest in endpoint security products in coming years," Cheung said.
Cheung said enterprise organisations were becoming very cautious about their security measures and how their employees use the Internet.
“Security is becoming a very important issue for enterprises,” he said. “Historically, hackers wanted to exploit security loopholes for personal pride, but that has now changed and it’s becoming more like organised crime where we’re seeing more exploitation for monetary benefits.”
He highlighted Security-as-a-Service as becoming a ‘must-have’ item in the enterprise.
“The overall use of the endpoint in the enterprise is changing, particularly with mobile workers,” he said.
Cheung said the hottest area in the security market was data loss prevention.
“Enterprises are very cautious about data being leaked to the public,” he said.