Symantec rules with 12% market share

According to the latest figures released by analysts at IDC, Symantec is the top security software provider worldwide with a current market share of 12%.

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By  Matthew Southwell Published  July 30, 2002

According to the latest figures released by analysts at IDC, Symantec is the top security software provider worldwide with a current market share of 12%. The figures, which are based on revenue generated in 2001, puts the vendor top of the analysts 84 strong field.

"This report reflects the success of Symantec's strategy of becoming the preferred provider of integrated Internet security solutions to the enterprise buyer, while continuing to serve its 100 million consumer base," says Kevin Isaac, regional director for Middle East & Africa, Symantec.

"Symantec's growth can be attributed to its track record for defeating blended threats with highly-effective, managed security solutions for the client, server and gateway platforms," he adds.

According to the report, Symantec's revenue jumped 22% year-over-year, from more than $589 million in 2000 to $718 million in 2001. The vendor’s recent acquisition of Mountain Wave, Recourse Technologies, Riptech and SecurityFocus for a combined value of around $375 million in cash should boost its market share yet further.

The total security software market grew 18% to $6 billion in 2001, up from just over $5 billion in 2000.

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