Security services to hit £14bn in 2005

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Security services to hit £14bn in 2005

The worldwide market for information security services will nearly triple to $21bn (£14bn) by 2005 - up from about $6.7bn in 2000 - according to new research released by the International Data Corporation (IDC).

The boom in the market will be driven by corporate desires for wireless access, extranets and remote networks because new and greater security services will be needed to secure those technologies, IDC's study said.

The financial services industry, with its emphasis on reliability and speed, as well and its need to conform to government regulation, will be the leading customer for these services, spending $2.2bn, IDC said. Financial services companies spent $848m on such services in 2000. Small businesses, because of their projected rapid uptake of high-bandwidth technologies, will also be another major area for information security services, the research found.

IDC also sees the market for these services growing particularly fast in the Asia/Pacific, Latin American and western European regions. The Asia/Pacific market - driven by Internet adoption in mobile phones and other devices as well as the spread of cyber cafés - will account for a large chunk of the market at nearly 30%, IDC said.

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