Financial Daily from THE HINDU group of publications
Tuesday, Sep 13, 2005
Financial Daily from THE HINDU group of publications Tuesday, Sep 13, 2005 |
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Info-Tech
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Security Industry & Economy - SSI SMEs to propel growth in security tool market: IDC Our Bureau
Bangalore , Sept. 12 THE next wave of growth in the security software solutions market will be from small and medium enterprises (SMEs), according to the latest report by the analyst firm International Data Corporation (IDC). In contrast, during 2004-05, security vendors targeted the larger sectors, namely telecommunication, government, banking, financial services and insurance and IT services, the report said. Adoption of security solutions in 2004-05 was concentrated mainly among large and mid-size enterprises in the country. According to the report, the inherent need of such companies along with the increasing number of security threats propelled the adoption of security software. The emergence of malicious worms and viruses such as MS Blaster, Code Red and Nimda goaded enterprises into increasing their expenditure on security. The continuing BPO boom and increasing stress on adherence to information security guidelines and compliance regulations by western clients also contributed to the growth of the security software solutions market, the report added. IDC reports that security solutions was the fastest growing category of the India software market in 2004. Last year, the security software solutions market in India stood at $36.3 million, according to the report. The market is expected to grow at 40 per cent this year. As the penetration of networking technologies and the need for convergence increase, identity and access management tools are finding takers among SMEs.
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