IT Security Market to Grow 8.7% This Year, Says Gartner

A new report from Gartner predicts strong growth for the IT security market through 2016. The trend toward BYOD, new regulation and the continued growth of attacks will likely spur enterprise spending on security technology.

Techworld’s John E. Dunn reported, “The global market for security and services will rise to $67.2 billion (£45 billion) in 2013, with further stellar growth taking that as high as $86 billion by 2016, Gartner analysts at the firm’s Security & Risk Management Summit have predicted. Year-on-year, 2013 will see 8.7 percent growth compared to 2012, which saw sales of $61.8 billion.”

ComputerWeekly’s Warwick Ashford noted, “Analysts said mobile security, big data and advanced targeted attacks would be the main forces shaping the security technology market.”

eWeek quoted Gartner’s Ruggero Contu who said, “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.”

According to the press release, “Bring your own device (BYOD) is a megatrend that will have a far-reaching influence on the entire security industry. Changes in how security addresses BYOD leaves several opportunities for technology service providers (TSPs).”