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 | | http://www.securitymanager.net/magazine/news_h10768_security_vendors_aiming_for_small_and_medium.html |
IDC says that in the Asia/Pacific (excluding Japan) market, enterprises have always been the focus of security software vendors -- the large projects are often the most lucrative. However, competition and saturation in this segment is resulting not only in price and margin pressure but also in increasing interest in untapped opportunities in the small and medium business segments.
IDC has observed vendors introduce a flurry of SMB-tailored security solutions in the past 18 months. Solutions that come with bundled features, are easy to deploy, and take into account the resource and technology constraints of SMBs, have been well-received by the market.
According to a recent IDC report, "Asia/Pacific (excluding Japan) Security Software Market 2004-2008 Forecast" (Doc #AP322342L), the security software market is expected to hit US$688.3 million in 2004, an increase of more than 20% from 2003. Looking forward, IDC forecasts the market to reach US$1366.4 million in 2008, a compound annual growth rate (CAGR) of 19%.
IDC says concerns regarding regulatory compliance, requirements for a more holistic security management software and alignment of business with IT security underpinned demand in 2004. The report also shows the largest markets in the region to be Australia, followed by Korea and PRC.
"Many enterprises cite regulatory compliance as the primary motivation for higher IT security software spending. Although the data protection and privacy regulations in question originated from the United States and Europe, MNCs are rolling out the compliance measures across their worldwide operations," said Willie Low, Market Analyst, Asia/Pacific Software Research. "For business partners of these companies, IT security compliance with respect to these regulations is expected to become mandatory rather than a nice-to-have," Mr Low added.
In Singapore, the Infocomm Security Masterplan will soon be launched. This Masterplan is a national strategic roadmap to develop a secure cyber environment for government, businesses and individuals. It will increase awareness and the government is likely to improve the infrastructural support to encourage bigger investments in IT security.
"The increasing sophistication of the security needs of small and medium-sized businesses (SMB) especially in the more IT-mature countries, combined with rising security risks that accompany the increasing adoption of broadband internet access, are driving these companies to invest to protect their information infrastructure," said Mr Low. "Vendors recognize this trend and realize that this is where the next wave of opportunities will come from."
31.01.2005, IDC
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