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Global security spend to blast past $16 billion

A new report by analysts Gartner has predicted that global security spending is expected to top $16 billion this year, a 11% increase from 2009.

Global security spend to blast past $16 billion
Most segments of the security software market will continue to grow over the next few years, says Gartner's Contu.

Worldwide security software revenue is expected to top $16.5 billion this year, according to a new report from analysts Gartner. This represents an increase of 11% from 2009 levels, when revenue reached $14.8 billion.

Ruggero Contu, principal research analyst at Gartner notes that the market looks to be in a period of extended good form: "Most segments of the security software market will continue to grow over the next few years, although a significant degree of variation is expected between the more-established and less-mature technologies. Overall, security will remain one of the fastest-growing areas within the enterprise software market."

According to the report, Forecast Analysis: Security Software Markets, Worldwide, 2009-2014, 2Q10 Update, the market for endpoint protection software is expected to provide revenues of $3 billion this year, which puts it firmly in second place behind the consumer segment, which has predicted revenues of $4.2 billion.

"Security software vendors that have a balanced mix of channel, new license and maintenance revenue streams and flexibility in contractual terms, such as software as a service (SaaS), open source and outsourcing, have the strongest options for continued growth and to even out the risk. Shrinking discretionary spending budgets have heightened competition for new maintenance and license revenue streams and placed a renewed emphasis on vendor performance and viability," continued Gartner's Contu.

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