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Information security market led by the likes of McAfee, Symantec and Cisco

Industry Sector

Information Technology

Published

6 December 2012

Author

Matt Bodimeade

Type of News

Market

In 2010, the global information security market hit a value of US$70 billion, and by 2016 this figure is expected to exceed a market value of US$85 billion.

In recent years, the growing number of information security events worldwide has caused huge losses to countries and enterprises, and therefore, governments and companies have attached increasing importance to the management on information security.

In the meantime, the rapid evolution of new businesses such as mobile internet, the internet of things and cloud computing also brings new market development room for information security industry.

The demand for information security products and services will be fuelled by increasing frequency and intensity of cyber attacks against enterprises, government institutions, and consumers, as well as by the need of companies to comply with industry and government mandates.

Despite the recession, companies have continued to spend on information security, which has insulated the market from the downturn. The need to adhere to compliance requirements, growing risk of hackers and data breaches, and increased threat from laid off employees are compelling companies to continue investing in security solutions.

Generally speaking, the United States is far ahead of other countries in information security basic theory, information security technology and cryptography technology, involving the renown companies with sound reputation like Symantec, EMC(RSA), IBM, Juniper, Cisco, McAfee, and WebSense in the world's information security market.

McAfee has a strong brand and market presence which originates from its primary focus and specialization on security, in both the consumer and enterprise markets. On the enterprise side, McAfee has been expanding its security software offering to network security following its acquisition of Secure Computing in November 2008.

With its mother company Intel, McAfee aims to build on both companies' competencies and have better integration between hardware and security. The McAfee DeepSAFE, a new low-level security agent that runs below the OS on Intel Core I-series processors, is an example of the innovation that this new corporate entity aims to bring to the market.

For more information on the information security market, see the latest research: Information Security Market

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