Global security spend to cross $35 bn in 2011

Research firm Gartner has said that the worldwide security services spending is on pace to reach $35.1 billion in 2011, up from $31.1 billion in 2010.

The market is forecast to total $38.3 billion in 2012, and surpass $49.1 billion in 2015.

"The security services market has changed rapidly over the last several years with a growing number of security technology providers offering their technologies as services, and customers often preferring services to save on operational costs while they consolidate resources to more strategic security related initiatives," said Lawrence Pingree, research director at Gartner.

The IT management segment of security services is forecast to grow from $8 billion to $14.9 billion in 2015, almost doubling the size of the security services market for managed security using the outsourced management model.

"This is largely driven by organizations looking at managed security services (MSS) providers as a way to maximize resources and lower ongoing operating expenditures on security," Pingree said. "Demand in the small and medium business segments is also high as businesses continue looking to external parties to provide them with additional security expertise and resources that they may be lacking organizationally to help them make the right security decisions or provide security functions externally."

Table 1: Worldwide Security Service Spending by Subsegment (Millions of U.S. Dollars)

Source: Gartner (November 2011)

North America is the largest market for security services spending, with revenue forecast to surpass $14.6 billion in 2012, and grow to $19 billion in 2015. In Western Europe, spending is expected to reach $11.9 billion in 2012 and total $14.4 billion in 2015. Security services spending in Japan is projected to grow from $5.1 billion in 2012 to $5.9 billion in 2015. In Asia/Pacific, spending will total $4.7 billion in 2012 and total $7 billion in 2015.

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