Thursday, January 17, 2013

Concerns over security of appliances on the rise says IDC

International Data Corporation (IDC), has raised concern over the security of appliances which is on the rise.

IDC in a latest forecast made available to ITRealms, its systems and infrastructure solutions research analyst for Middle East, Africa, and Turkey, Faysal Ayoubi, was quoted as saying that "This will be driven by the growing complexity and frequency of cyber threats in the region and the requirement to install security systems for regulatory compliance reasons."
According to Faysal, as threats continue to emerge across the Middle East and Africa (MEA) region, IDC expects to see healthy growth in the region's security appliance market over the coming years.

Also, IDC expects that the MEA security appliances market will expand at a compound annual growth rate (CAGR) of 9.6 per cent over the next four years to total approximately $350 million in customer revenues.

"Companies throughout the region will continue to invest in IT security over the coming years," says Faysal Ayoubi.
The Unified Threat Management (UTM) and firewalls/VPN will lead the demand curve, accounting for a combined share of about 80% of the total security appliance market by 2016. The report further said that CIOs seek a complete security solution to handle the threats they are exposed to, and this solution may be a combination of hardware, software, and cloud services. Today, multifunction security hardware solutions are preferred to single-function solutions in the MEA region, so we expect to see continuous growth for these combination technologies," Ayoubi said.
The UAE and Saudi Arabia are the leading markets for security appliances in the Gulf Cooperation Council (GCC), while finance, telecommunications, and government are the region's biggest-spending verticals on IT.

"The MEA region is poised to see an enormous level of investment pumped into the expansion of security infrastructure after numerous high-profile cyber breaches made the news headlines in recent months," says Ayoubi.

"Further growth in subsequent years will be primarily driven by the fast-growing Internet adoption rate and increasing demand for IT-enabled business solutions in emerging markets. Moreover, initiatives undertaken by governments at the country level will be a vital driver of the region’s IT spending growth."

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1 comment:

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