The security market in the Asia/Pacific excluding Japan (APEJ) region is expected to post strong double-digit growth in 2010 compared to 2009, according to IDC.
The analyst firm says that spearheading the sector’s growth this year will be the security and vulnerability management (SVM) market which is forecast to grow some 19 per cent over 2009 with revenue of US$115.44 million during the year.
The secure content and threat management (SCTM) market is forecast to grow 18.4 per cent with revenue of US$1134.82 million, while identity and access management (IAM) will grow 15.2 per cent to reach US$ 326.38 million.
Commenting on the growth, Judy Wu, research manager for IDC Asia/Pacific Security Research, said increasingly complex security threats and regulatory compliance were the primary drivers on the growth.
“Companies are required to align with international regulations, standards and best practices when collaborating with business partners around the world,” she said in a statement. “Many of these companies have turned to SVM products to establish a security management framework for various compliance requirements such as policy compliance, log archiving and auditing.”
Looking ahead Wu said cost saving would remain a key initiative in most enterprises leading organisations to look to new security technologies such as policy and IT compliance suites, as well as vulnerability assessment and risk management products.
“When managing security goes beyond the traditional content security patterns, it will definitely boost growth in all areas of the security software markets," Wu said.