Worldwide spending on IT security will hit $21 billion in 2005, says IDC
Retailers trying to keep ahead of hackers who want to steal their customer lists and credit card numbers or just play havoc with their sites will not be alone in spending on web security measures over the next 3 years, says a new report from Framingham, MA-based researchers IDC.
The worldwide market for information security services will more than triple to $21 billion by the end of 2005 from $6.7 billion in 2000 as operators of web sites keep ahead of potential security breaches, says a new report from IDC, Mid-2001 Update: Information Security Services Worldwide Market Forecast and Analysis, 2000-2005.
"The growing corporate appetite for remote LAN, Internet, extranet/intranet, and wireless access services will drive the need for advanced information security services as technologies for circumventing network security systems continue to keep pace with the technologies designed to defend against them," said Allan Carey, senior analyst with IDC`s Information Security Services research program. "The growth in this market will come from clients who recognize the value of engaging third-party service providers skilled at developing customized security strategies that solve real business problems. By implementing a best-in-class security architecture coupled with continuous monitoring and management of the infrastructure, security service firms enable clients to mitigate the risks associated with their business."
Although representing the smallest commercial sector in terms of services spending in 2000, the small business category, which IDC defines as companies with 100-999 employees, will represent the fastest-growing opportunity in this sector through 2005. “As small businesses continue to transition their networks to high-bandwidth architectures capable of handling a range of applications, from e-commerce to wireless, these organizations will invest more aggressively in security-related services,” IDC says.
IDC`s research indicates the financial services sector will continue to represent the single-largest source of information security services spending, growing from $848 million in 2000 to approximately $2.2 billion in 2005.
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