Enterprise security software market booms

The market was worth US$10.4 billion in 2007, up 19.8 percent on 2006, the analysts estimate. Symantec dominates the market, with over 26 percent market share, with McAfee second with over 11 percent.

“In 2007, the security market did not experience any noticeable signs of a slowdown as it showed a double digit growth, up 7 percent from 2006,” said Ruggero Contu, principal research analyst at Gartner.

“Compliance, data leakage and privacy issues, along with the need to tackle the fast evolving and sophisticated threat environment, are among the major drivers fuelling the growth of spending on security.”

E-mail security boundary appliances showed the strongest growth, at over 45 per cent. The slowest growing sector was enterprise antivirus software, as companies are increasingly switching to using dedicated hardware appliances for protection.

Latin America is the fastest growing region, with over 40 percent sales growth. North America and Western Europe continued to lead the market with market shares of 47.5 percent and 31.7 percent respectively.

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