Australian security market to boom

Stan Beer
Monday, 07 August 2006 16:45

IT Industry - Market

The Australian security market is in for a boom time over the next four years according to a new report.

Technology research group IDC expects the security solutions market to grow at a close to double-digit growth rate over the forecast period to reach over AU$1.3 billion by 2010. This growth will be driven by the continuously evolving threat landscape, the need to secure new and emerging business enabling technologies and the increasing pressure from government and industry regulations among many other factors.
 
IDC's latest study, "Australia Security Solutions 2006-2010 Forecast," provides a detailed analysis of the Australia security solutions market. It includes an analysis of the current market size and its growth potential through 2010. In addition, this study provides insight into the key dynamics shaping this diverse and dynamic market.

"Customers will demand lower cost, well integrated solutions and easy management to maintain low Total Cost of Ownership (TCO) of their security investment. This provides a challenge for security vendors who need to continue to develop new business models and strategies in order to be successful in this highly competitive market," said Patrik Bihammar, Market Analyst, Security Solutions, IDC Australia.