IDC Finds Security in Europe a Booming Market
COPENHAGEN, April 28, 2004 According to a new IDC study, 2003 has seen another tidal wave of viruses and worms, security breaches, productivity concerns, and legal liability issues. Despite a very uncertain economic environment and the skepticism surrounding new investments, IT security spending is increasingly important for European enterprises. And as a result, Western European revenue for the security software market reached almost $2.5 billion in 2003.
"SoBig, Slammer, Nachi, Bugbear, and Blaster: 2003 was clearly a year of too many high-profile outbreaks. Beyond this typical threat environment, enterprises had to deal with an onslaught of 'enlarge and reduce' spamming, lingering corporate productivity concerns, and potentially image-shattering legal liability issues," said Thomas Raschke, program manager of IDC's European Security Products and Strategies research. "IT security investments remain a top priority for most European organizations. This, of course, gives the security industry the opportunity to move beyond a predominantly insurance-type sales approach (F.U.D.) and instead deliver on the promise of holistic, tailor-made security concepts that enable organizations to literally 'mind their own business.'"
IDC believes that the continuing focus on security bodes well for opportunities within the security software market. Corporate concerns with regulatory compliance, spam, worms/viruses, and identity management will help to drive the security software market to achieve more than $5 billion in 2008, representing a compound annual growth rate (CAGR) of more than 15%.
IDC's study, Western European Security Software 20042008 Forecast (IDC #IS01L, April 2004), presents this year's first look at how the Western European security software market performed in the past year, as well as the outlook for the next five years. A country forecast is included for 20042008 for the Western European security software market overall and for each of the five segments of the market. Finally, guidance is offered on both market drivers and inhibitors as well as on appropriate strategies for taking advantage of future market growth. Ultimately, the data and analysis presented in this study provide valuable input not only to vendors competing in the European security software market but also to those looking to gain a technology overview on the European security software landscape and its forthcoming changes.
To purchase this document, please contact your local IDC office.
For more information, contact:
Thomas Raschke
traschke@idc.com
+45 39 16 22 21
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