More NewsGlobal Security Software Spending Up 18.6% in 2008

Global Security Software Spending Up 18.6% in 2008

Total market revenue on security software rose by some 18.6% over 2008, the latest figures from Gartner reveal. According to the research organisation, worldwide security software market revenue equalled US$13.5bn last year, up from US$11.3bn the year before.

“In 2008, the security market did not show any noticeable impact from the economic downturn,” said Ruggero Contu, principal research analyst at Gartner. He added that double-digit growth in the sector shows security remains a prime concern for business leaders, despite the ongoing slowdown.

Market share of the leading vendors decreased over the year, as more people turned toward smaller security software suppliers, the research found. Symantec, the leading security provider, saw its market share fall from 24.4% to 22%.

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