The growth rate of the worldwide security software market will more than halve to 8% from 19% last year but will still total $14.5bn in 2009, says market analyst Gartner.
By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.
Gartner expects the world market to recover in 2010 with growth rising to 13% as revenue grow to $16.3bn.
In Europe, the security software market will total €3.2bn in 2009, 7% up from 2008, Gartner said.
Gartner principal research analyst Ruggero Contu said the perception that security was a critical area underpinned the above-inflation growth rates.
"Although the market is affected by the economic downturn, security remains a critical area where drastic cuts cannot be afforded," he said.
The best growth will come from software as a service (SaaS), appliance-based offerings, and small and medium businesses (SMBs), which "are in security catch-up mode", he said.
Consumer security will remain the largest single revenue segment (25%) of the total market. Gartner said it will account for $3.6bn, growing 4% in 2009.
The enterprise security software market, which includes segments such as endpoint protection, email security and user provisioning was worth $10.9bn, growing 9% in 2009, he said.
Last year's market saw a lot of consolidation. McAfee bought Secure Computing, Symantec and Sophos bought MessageLabs and Ultimaco respectively. More is expected because end users want better-integrated multi-products, said Contu.