Expected to reach $35b in 2011
Security services’ spending is expected to reach $35.1b in 2011, up from $31.1b in 2010, according to IT research firm Gartner.
The technology research firm forecasts security services spending to surpass $49.1b in 2015.
The IT management segment of security services is also forecast to grow from $8b currently to $14.9b in 2015.
Gartner research director Lawrence Pingree said the security services market has changed rapidly over the last several years with a growing number of security technology providers offering their technologies as services, and customers often preferring services to save on operational costs while they consolidate resources to more strategic security related initiatives.
North America is the largest market for security services spending, with revenue forecast to grow to $19b in 2015.
Western Europe spending for this market is expected to reach $14.4b for the same period, while security services spending in Japan is projected to touch $5.9b in 2015 while in Asia/Pacific the spending will total $7b in 2015, the report adds.