IDC predicts massive growth in the security services market

The growing corporate appetite for remote LAN, Internet, extranet/intranet, and wireless access services drives the market for advanced security services.

  • E-Mail
By  Greg Wilson Published  September 28, 2001

The security services market is expected to explode in the next four years. According to statistics from IDC, the market will triple in size between 2000 and 2005, racking up a growth rate of 25.5% to reach $21 billion.

“The growing corporate appetite for remote LAN, Internet, extranet/intranet, and wireless access services will drive the need for advanced information security services as technologies for circumventing network security systems continue to keep pace with the technologies designed to defend against them,” said Allan Carey, senior analyst with IDC's Information Security Services research program.

“The growth in this market will come from clients [which] recognise the value of engaging third-party service providers skilled at developing customised security strategies that solve real business problems. By implementing a best-in-class security architecture coupled with continuous monitoring and management of the infrastructure, security service firms enable clients to mitigate the risks associated with their business,” she added.

IDC’s research predicts that the largest demand for security services will come from the financial services sector. In 2000 the financial services sector spent $848 million, however, this is set to rocket to $2.2 billion by 2005.

Downtime equating to lost transactional revenue, the need to remain one step ahead of fraud, and government regulations are all factors leading to the growth forecast in the financial sector, states the report.

Add a Comment

Your display name This field is mandatory

Your e-mail address This field is mandatory (Your e-mail address won't be published)

Security code