Network security market up 8% to $5.5bn in 2008

The network security market was up 8% in 2008 to $5.5bn, says analyst Infonetics Research.

The figures are contained in the analyst's fourth quarter...

The network security market was up 8% in 2008 to $5.5bn, says analyst Infonetics Research.

The figures are contained in the analyst's fourth quarter edition of its Network Security Appliances and Software report.

Jeff Wilson, an analyst at Infonetics, said, "For the quarter, Cisco hit their network security revenue target, and even grew revenue slightly, in what is historically a down quarter for them."

He added, "Check Point grew their revenue as well, and Juniper held steady. Looking forward, consolidation in the market should create some strong and interesting competition among the top five suppliers.

"McAfee is digesting Secure Computing, Check Point will fully absorb Nokia's security appliance business by the first or second quarter of 2009, and Nortel entered chapter 11 in November."

On future prospects for the industry sector, Wilson said, "Virtually every supplier we talked to said their business remained strong in the fourth quarter and expects 2009 to be an okay year. While that is not great in a vacuum, many industries would be ecstatic to experience an okay 2009."

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