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Global security software market records 7.5% growth

2012/05/04 15:54:15

Taipei, May 4 (CNA) The global security software market grew moderately in 2011, driven by small and medium-sized business demand, persistent threats and compliance, according to market intelligence and advisory firm Gartner Inc.

Revenue in the market totaled US$17.7 billion in 2011, up 7.5 percent from US$16.5 billion the previous year, Gartner said in a statement.

"Growth in the 2011 security market reflects a continuation in demand for consumer and enterprise security tools," said Ruggero Contu, research director at Gartner.

"However, despite overall solid growth, some regions did not experience the high double-digit growth of emerging Asia-Pacific and Eurasia," he said. "Western Europe remained the laggard because of the region's uncertain economic situation."

The security software market continued to show resilience at a time of IT budget restrictions and despite Intel Corp. writing down considerable revenue following its McAfee Inc. acquisition, Gartner said.

McAfee was acquired by Intel in February last year, and Intel's significant decline in revenue in 2011 was due to the fact that it was required to write down approximately 30 percent of McAfee's $1.4 billion of deferred revenue, Gartner said.

Symantec Corp., retaining its market share lead, recorded an annual growth rate of 17 percent, reaching US$3.7 billion in 2011, while Taiwan's Trend Micro Inc. grew 11 percent, generating US$1.2 billion in revenue, according to Gartner.

"Key vendors continued to expand their product portfolios in 2011, buying companies where appropriate and expanding their reach into emerging markets," Contu said.

"Merger and acquisition activity also has been an important factor in shaping the market landscape, at least during the past five years," he added.

(By James Lee)