Global IT security market to grow 15pc

The global IT security market (includes security software & security appliances) is anticipated to grow at a CAGR of 15.5 percent through 2012 from 2008.

Shooting rate of Internet adoption across the world and rising threats on Internet (such as malware, spam and hack attacks) are bolstering the demand for IT security solutions. Moreover, IT security attacks are becoming becoming increasingly sophisticated, requiring continuous monitoring and updating the existing IT security solutions, says "Global IT Security Market Forecast to 2012, a report by RNCOS.
The report provides an overview on the current and future scenario of the world IT security market. It studies the global IT security market into two segments: Security Appliances and Security Software. The research also details on various ongoing and emerging trends in the global IT security market, thus helping the IT security vendors to identify opportunities.
Key FindingsThe global IT security market (includes security software & security appliances) is anticipated to grow at a CAGR of 15.5 percent through 2012 from 2008.
The increasing number of IT security attacks, ongoing vulnerability discoveries, and the need for companies to comply with new legislations are fostering the growth of global IT security market.
Among the security appliances market, UTM (Unified threat management) will grow rapidly at a forecasted CAGR of nearly 34 percent, followed by IDS/IPS.
The Asia-Pacific region is anticipated to account for the majority of IT security solutions market by 2012.Rapidly growing Internet adoption and surging demand for IT-enabled business solutions in emerging markets like India, China and GCC have made these destinations lucrative for IT security development.