Information Security Market Forecast to Reach $79 Billion by 2010

Today’s high security threats and new advanced security solutions are driving the information security market to new heights, reaching $79 billion by 2010, says a new market forecast for the industry.

According to an article on the Military & Aerospace Electronics website, the new report from Global Industry Analysts Inc. is titled “Information Security Products & Services: A Global Strategic Business Report.” The report is designed to offer analysis and coverage of the US, Canadian, Japanese, European, Asia-Pacific, Latin America, and Rest of World markets, as well as offer insight into major trends, issues, regulatory environments and competitive scenarios.

The report says the US and Europe dominate the global market, collectively accounting for more than 71 percent of the sales. However, it says the fastest growth is likely to emanate from the burgeoning Asia-Pacific market.

“Owing to the large-scale development and deployment of advanced security products and services, the worldwide information security market has fast evolved into a high revenue generating industry,” the article says. “High security threats worldwide have spurred the need to safeguard mission critical information systems. This has scaled up the demand for cutting edge security solutions worldwide.”

The report also found the market is distinguished by a high degree of security spending, with most organizations prepared to install innovative security systems for optimum risk management.

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