Skip to main content

IT Security Revenue will Reach $118 Billion by 2019

According to the latest worldwide market study by Technology Business Research (TBR), total revenue for IT security hardware and software products -- including managed and hosted security services -- totaled nearly $50 billion in 2014 and will grow at an 18.9 percent CAGR to more than $118 billion by 2019.

"Customers are opening their wallets in an urgent effort to protect their data and their reputations from increasingly sophisticated attacks," said Jane Wright, senior analyst and security research lead at TBR.

According to the TBR assessment, cyber criminals and hackers are exploiting enterprise user endpoints to infiltrate and navigate customer infrastructures and steal data or disrupt business operations.

To block the attacker entry points, enterprise IT managers will increase their spending for endpoint-based advanced threat detection and response solutions, which will propel revenue growth in the endpoint security segment to an estimated 23.2 percent CAGR through 2019.

However, TBR believes that the top vendors based on endpoint security revenue will command a much smaller combined share of the segment in the future.

More vendors are emerging to address the enterprise endpoint security demands with new technologies, and TBR expects these vendors to capture larger segment shares over the next five years.

Network security revenue growth will slow during the TBR forecast period as customers focus more IT security spending outside of their increasingly porous networks.

To date, network security products account for about 25 percent of the enterprise security market revenue, but TBR believes this will decline to approximately 20 percent by 2019. Moreover, within the network security segment, they expect a major shift among some of the largest vendors.

Vendors are enhancing their security information and event management (SIEM) solutions with more advanced threat protection capabilities such as real-time detection, multi-vector analysis, behavior-based algorithms and more extensive forensics. This has created a new type of product that TBR calls "SuperSIEM."

"The improved threat detection and response capabilities enabled by SuperSIEMs will make a big difference in how well customers are protected from the attack techniques that hackers devise in the future," adds Wright.

Popular posts from this blog

Mobility-as-a-Service Creates Disruptive Travel Options

Building on significant advances in big data, analytics, and the Internet of Things (IoT), more innovative transit service offerings aim to increase public transport ridership and reduce emissions or congestion within metropolitan areas. By providing these services through smartphone apps, the transit services also significantly increase user convenience, providing information on different human mobility offerings -- including public transport, ridesharing, and autonomous vehicles. Mobility-as-a-Service Market Development According to the latest market study by Juniper Research, Mobility-as-a-Service (MaaS) subscribers will generate $53 billion in revenue for MaaS platform providers by 2027 -- that's rising from $5.3 billion in 2021. Let's start with a basic definition. MaaS is the provision of multi-modal end-to-end travel services through single platforms, by which users can determine an optimal route and price. The study identified a monthly subscription model as key to incr

Robocall Mitigation Solutions to Halt Criminal Threats

If you answer the phone and hear a recorded message instead of a live person, it's likely a robocall. A robocall is a phone call that uses a computerized autodialer to deliver a pre-recorded message. In 2020, the U.S. Federal Trade Commission (FTC) received 2.8 million consumer complaints about robocalls. Offering solutions to robocalling and associated fraudulent business practices, computerized mitigation platforms are an integral part of the solution. Platforms that are focused on actionable systems to disrupt unsolicited and potentially criminal phone calls help telecom service providers and industry regulators. Issues of whether one-size-fits-all developments are sufficient to be effective across the spectrum need to be addressed, and whether a single telecom network operator working unilaterally with a third-party platform could compromise desired or mandatory industry-wide standards. Robocall Mitigation Market Development According to the latest worldwide market study by Jun

Upside for New 5G Network Transport Infrastructure

The global mobile communication sector is in the midst of a significant network infrastructure upgrade to support the introduction of new high-bandwidth and low-latency broadband service offerings.  Telecom service provider data centers have an important role in fifth-generation (5G) network deployments. Providers undergoing their transition to Stand-Alone (SA) 5G must understand the technical demands of telco data centers and the key enablers of those offerings. According to the latest worldwide market study by ABI Research, the major prerequisites of 5G and the emerging transport solutions would help operators position themselves to successfully capitalize on the new revenue opportunities from delivering differentiated 5G connectivity services. 5G Transport Network Market Development "The rise of the telco data center has a high degree of confluence with the requirements of SA 5G architectures. SA 5G and its increasing reliance on telco data centers can be attributed to the incr