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Research and Markets: Global IT Security Spending Market Forecast & Opportunities, 2016
Source: finance.yahoo.com
Source Date: Friday, January 17, 2014
Focus: Electronic and Mobile Government, Internet Governance
Created: Jan 21, 2014

One of the major drivers is the need to improve the quality of protection. As the frequency of attacks is increasing, organizations are increasingly implementing IT security solutions that efficiently monitor and provide enhanced protection.

 

Commenting on the report, an analyst from the team said: One of the major trends witnessed in the market is the increasing demand for cloud-based security solutions. The demand for cloud-based security solutions is increasing in the Global IT Security Spending market, primarily because of the significant advantages attributed to such solutions. Moreover, companies are finding it difficult to manage standalone or integrated network components because of issues such as budget constraints, and lack of resources and expertise to address security issues. Hence, companies are increasingly opting for cloud-based IT security solutions, which are cost-effective, compliant with PCI DSS, and offer round-the-clock monitoring of the system. Therefore, the increasing demand for cloud-based solutions is expected to contribute to the growth of the Global IT Security Spending market during the forecast period.

 

The quality of protection can also be enhanced by outsourcing security responsibilities to service providers that have core expertise in this field. Hence, more end-users are adopting IT security services, a trend which is supporting the growth of the Global IT Security Spending market.

 

Further, the report states that one of the major challenges faced by the vendors in the market is the high cost of implementation. Despite the potential benefits provided by IT solutions, certain organizations refrain from investing in such solutions owing to the high costs associated with them. In addition, there are certain hidden costs involved in the maintenance of such solutions. Factors like these discourage end-users from adopting these solutions, thereby affecting the growth of the Global IT Security Spending market.

 

The key vendors dominating this market space are:

Check Point Software Technologies Ltd.

Cisco Systems Inc.

EMC Corp.

Fortinet Inc.

Hewlett-Packard Co.

Juniper Networks Inc.

McAfee Inc.

Palo Alto Networks Inc.

Sourcefire Inc.

Symantec Inc.

Trend Micro Inc.

 

Key Topics Covered:

01. Executive Summary

02. Scope of the Report

03. Market Research Methodology

04. List of Abbreviations

05. Introduction

06. Market Description

07. Market Landscape

08. Geographical Segmentation

09. Buying Criteria

10. Market Growth Drivers

11. Drivers and their Impact

12. Market Challenges

13. Impact of Drivers and Challenges

14. Market Trends

15. Trends and their Impact

16. Vendor Landscape

17. Key Vendor Analysis

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