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Demand for IT security products and services have been witnessing exponential
growth for past few years, owing to the increasing deployment of IT-enabled
business solutions. Moreover, rapidly increasing cyber attacks on the websites of
the government and enterprises has made it necessary for them to have an
updated and strong IT security infrastructure in order to secure their vital
information from malicious cyber attackers. Fast Internet adoption in various
emerging countries is also fuelling the demand for IT security products and
services worldwide.
Giving brief overview of IT market on global as well as country level, the report
thoroughly studies the importance of IT security market in all the countries
studied. Various factors that will drive the IT security market in future have been
comprehensively discussed in the report.
The segment-level analysis reveals that IT security software market holds the
major chunk in total IT security market. This segment accounted for nearly 44%
of the total IT security market in 2009. However, in coming years, the major
growth driver in total IT security market will be IT security services segment. This
segment is expected to grow at a CAGR of around 14%, followed by security
appliances with CAGR pegged at around 13% over the forecast period (2010-
2013).
On the regional front, our report indicates that the Asia-Pacific and the Middle
East regions will experience significant growth in their IT security market in
coming years. This growth will be driven by the rapidly growing Internet adoption
and surging demand for IT-enabled business solutions in countries like India,
China and the GCC region.
1. Analyst View