Security software set for growth

The global security software market is set for 11.3 per cent growth this year, reaching revenue of $16.5 billion, Gartner predicts.

This year’s projection compares to $14.8 billion revenue last year, when the economic downturn slowed the sector’s growth to seven per cent.

"Most segments of the security software market will continue to grow over the next few years, although a significant degree of variation is expected between the more-established and less-mature technologies," said Ruggero Contu, principal research analyst at Gartner. "Overall, security will remain one of the fastest-growing areas within the enterprise software market."

Consumer security software remains the largest part of the sector, with 2010 revenue expected to reach $4.2 billion, up from $3.9 billion in 2009. Enterprise market revenue is on trach to reach $3 billion, up from $2.9 billion in 2009.