About IT Security Spending in the Government Sector
In 2015, the global IT security spending in the government sector was in its growth stage and many government organizations adopted IT security solutions to improve their business operations and productivity. Increasing instances of identity theft, cybercrime, and insider fraud as well as increasing opportunities for hackers are compelling organizations to adopt IT security solutions. The global IT security spending in the government sector in APAC is likely to grow rapidly because of the rise in bring -your-own-device (BYOD) and choose-your-own-device policies and mobility services.
Cyber threats are creating vulnerabilities and posing a threat to critical IT infrastructure. Some vendors have started delivering IT security solutions for cloud, mobile, and social applications. New vendors offering customized products are likely to enter the market.
Small and medium-sized businesses (SMBs) tend to prefer software as a service (SaaS)-based IT security solutions because they do not require any additional IT infrastructure on the end-users' premises. Organizations have to securely manage and track the activities of users to reduce the risk of data breaches and ensure accountability.
Technavio’s analysts forecast the global IT security spending in the government sector to grow at a CAGR of 9.02% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global IT security spending in the government sector for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of IT security products and IT security services in the government sector.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global IT Security Spending in the Government Sector Market 2016-2020
Technavio recognizes the following companies as the key players in the Global IT Security Spending in the Government Sector Market: Check Point Software Technologies, Cisco Systems, Fortinet, and Juniper Networks.
Other Prominent Vendors in the market are: Arbor Networks, Barracuda Networks, Dell SonicWall, F5 Networks, FireEye, Palo Alto Networks, Sophos, and Trend Micro.
Commenting on the report, an analyst from Technavio’s team said: “The government sector is increasingly adopting SaaS-based security solutions because of the benefits they offer, which include the availability of pay-per-use models and instant access. In addition, SaaS-based security solutions automatically update the product, enabling it to respond to the latest security threats. The growing security requirements of government organizations are increasing the demand for SaaS-based IT security solutions. The growing demand for SaaS-based security solutions has outpaced the demand for traditional IT security solutions.”
According to the report, with the adoption of BYOD policies among federal agencies, federal employees are using their personal mobile devices such as smartphones, tablets, and laptops for work purposes. This has increased the demand for uninterrupted connectivity between corporate networks and employees' devices. Employees need to access and store confidential information on mobile devices, which has increased the need to protect data. The adoption of BYOD has been growing each year in the government sector.
Further, the report states that high implementation costs will refrain small enterprises in the government sector from adopting IT security solutions.
Check Point Software Technologies, Cisco Systems, Fortinet, Juniper Networks, Arbor Networks, Barracuda Networks, Dell SonicWall, F5 Networks, FireEye, Palo Alto Networks, Sophos, Trend Micro.
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