IT Security Market May Hit $45 Billion
Mar 1, 2003 12:00 PM
The total IT security market, including software, hardware, and services, is expected to increase to $45 billion in revenues by 2006, compared to revenues of $17 billion in 2001, according to a recent IDC report.
Security hardware presents the strongest opportunities for growth with a 25 percent growth rate (CAGR) from 2001-2006, followed by services at 24 percent and software at 16 percent.
IDC believes the future of IT security will be a combination of products and services implemented to work together to provide an organization's network with complete protection.
Success will be driven by increased demand for security services as companies continue to need help developing enterprise-wide risk management strategies to mitigate potential liabilities and to provide a trusted environment for stakeholders.
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© 2012 Penton Media Inc.
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