IT security market up 9% in Q3 to USD 8 bln – study
The worldwide IT security market maintained momentum in Q3, growing 9 percent to reach USD 8.0 billion fueled by rising cyber-security threats, according to the latest Canalys estimates. Content security was the fastest-growing segment, with investment up 13 percent year-on-year, according Telecompaper. Network security grew 8 percent, while security management increased 5 percent. The top five security vendors accounted for 34 percent of total spend, with Cisco having the largest slice of the market at 9 percent.
Cisco grew 7 percent year-on-year, thanks to its strong channel partner focus and a broad product portfolio boosted by acquisitions, researchers said. It was followed by Symantec, Check Point, IBM and McAfee, which all grew year-on-year. Under new leadership, Symantec maintained strong growth, up 22 percent following the integration of Blue Coat and LifeLock.