Evolution of Next-Generation Cyber Security Solutions and Integrated Security Solutions are the Major Factors of Growing Global IT Security Spending Market

The increasing market of mobile and web platform, evolution of next-generation cyber security solutions, and need of integrated security solutions are some of the growth opportunities, which contribute towards the global IT security spending market in the forecast period.

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Information technology (IT) security is used to safeguard data and information of multi-user or single user networks. It protects information and data from unofficial access and fraudulent modification. Spending on IT security refers to the measures taken to monitor, detect, report, and counter threats. IT security spending involves the expenses sustained by the government organizations and enterprises to secure their network, systems, and data. It also includes costs incurred while safeguarding computers, communications, along with information and data. IT security spending is a long-term investment to protect and save critical data.

The global IT security spending can be segmented, on the basis of security type, solution, service, vertical, and region. The IT security types include network security, content security, wireless security, endpoint security, application security, and cloud security. Content security spending is driven by encryption and data-loss prevention (DLP) solutions, owing to the growing need for protecting corporate data. On the basis of services, the global IT security spending market can be segmented into consulting, risk & threat assessment, design & integration, managed security services, and training & education. Based upon solutions, the IT security spending can be categorized as identity & access management, risk & compliance management, encryption, unified threat management, data loss prevention, firewall, antivirus & antimalware, or intrusion prevention system (IPS) or intrusion detection system (IDS), security information and event management (SIEM), distributed denial of service (DDoS), disaster recovery, whitelisting and mitigation. Security management investment is gaining significance in medium-sized businesses, due to the necessity of having greater visibility through an increasingly diverse infrastructure. In addition, the industry verticals can be divided into aerospace, government; BFSI; telecommunication, defense, and intelligence, healthcare; retail; manufacturing; and others.

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Some of the major competitors in the global IT security market are Check Point Software Technologies Ltd., Palo Alto Networks, EMC Corporation, Fortinet, Inc, McAfee, Inc, Juniper Networks, Inc., Symantec Corporation, and Trend Micro Incorporated.

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