Worldwide Security Market to grow 8.7% in 2013: Gartner

Gartner has forecasted that the worldwide security technology and services market may reach $67.2 billion in 2013, up 8.7 per cent from $61.8 billion in 2012. It is further expected to grow to more than $86 billion in 2016.
 
Ruggero Contu, Research Director, Gartner, said, "With security being one of the top IT concern areas, the prospect of strong continued growth is assured. The consistent increases in the complexity and volume of targeted attacks, coupled with the necessity of companies to address regulatory or compliance-related issues continue to support healthy security market growth."
 
"To support the growing need for security analytics, changes in information security people, technologies, integration methods and processes will be required, including security data warehousing and analytics capabilities, and an emerging role for security data analysts within leading-edge enterprise information security organizations," said Eric Ahlm, Research Director, Gartner.
 
Gartner analysts see three main trends shaping the security market moving forward -  mobile security, big data and advanced targeted attacks.
 
The report from Gartner also showcases that Bring your own device (BYOD) will have a far-reaching influence on the entire security industry in the coming years. Firstly, with the shift from device security to app/data security, there is a chance for some security technology service providers TSPs to capture endpoint protection budgets. Secondly, since some BYOD projects are centred on the productivity gains of one to two apps, there could be buying centres adding security outside of traditional information technology centres.

The amount of data required for information security to effectively detect advanced attacks and, at the same time, support new business initiatives, will grow rapidly over the next five years.