E-security investment set to flourish

E-security investment set to flourish

The e-security products market in the UK and Ireland is set to top $0.5bn by the end of 2002, following media and Government-led campaigns highlighting the risks facing businesses from hackers and viruses, according to Datamonitor.

The analyst company’s report, “Global network security markets: an evolving market”, points to September 11 as the catalyst for worldwide business security awareness.

The report forecasts considerable global IT security investment in 2003, culminating in vendor revenues for firewalls and virtual private networks (VPNs) hitting the $7.5bn mark by 2005, and e-security services revenues increasing at an average annual rate of 24% between 2001-2005, to $14.5bn.

Datamonitor expects the increasing complexity of security solutions forcing IT managers to take up offers to outsource the managing and monitoring of solutions, such as firewalls and VPNs.

As a result, global outsourced security services is expected to be the fastest growing area of the e-security services market, with a predicted CAGR of 35% between 2001-2005, reaching $2.9bn,equating to 20% of all security services revenues.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource