Global IT Security Spending Market 2015-2019
About IT Security
IT security is used to protect data and information of single-user or multi-user networks. It protects data and information from unauthorized access and modification. IT security refers to measures taken to detect, monitor, report, and counter such threats. IT security spending refers to the expense incurred by enterprises and government organizations to secure their data, systems, and networks. It also includes expenses incurred while securing computers, communications, and information and data. IT security spending is a long-term investment to save and protect critical data.
Technavio's analysts forecast the global IT security spending market to grow at a CAGR of 9.88% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the global IT security spending market for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of the following:
Technavio Announces the Publication of its Research Report – Global IT Security Spending Market 2015-2019
Technavio recognizes the following companies as the key players in the Global IT Security Spending Market: Check Point Software Technologies Inc., Cisco Systems Inc., EMC² Corp., Fortinet Inc., Juniper Networks Inc., McAfee Inc., Palo Alto Networks Inc., Symantec Corp, and Trend Micro Inc.
Other Prominent Vendors in the market are: Akamai Technologies, Avast Software, AVG Technologies, Barracuda Networks, Citrix Systems, Dell SonicWALL, F5 Networks, Hewlett-Packard, Radware, IBM, Imperva, Microsoft, Panda Security, Sophos, and Trustwave Holdings.
Commenting on the report, an analyst from Technavio’s team said: “The growing demand for cloud-based security solutions is a major trend observed in this market. Cloud-based solutions offer advantages like cost effectiveness and round-the-clock monitoring. These solutions help companies to manage difficult standalone or integrated network components.”
According to the report, the growing demand for operational efficiency is a critical driver that augments growth in this market. IT solutions aid in securing sensitive data from unauthorized access and also help to analyze real-time and historical trends of business activities. This helps in identifying risk areas and ensures optimized performance.
Further, the report states that the high cost of implementing IT solutions is one of the primary challenges faced by this market. Apart from the high implementation costs, IT solutions have a few hidden expenses such as maintenance, software upgrades, and maintaining a talent pool to monitor the IT solution’s performance.
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