Global security software revenue increased by 7.9 per cent during 2012, a new report has claimed.
Research conducted by IT analyst Gartner indicated that the market turned over $19.2 billion (£12.6 billion) last year, up from $17.7 billion (£11.6 billion).
The firm said the evolution of new threats and working practices, such as bring your own device, encouraged spending on security solutions.
Ruggero Contu, research director at Gartner, claimed the 2012 security market saw a continuation of increasing demand for consumer and enterprise security tools.
"Although overall, the 2012 security market continued to grow, not all regions experienced the high double-digit growth of, for example, Eurasia, which was driven by greenfield projects and buoyant economies," he stated.
"As expected, Western Europe remained the laggard due to economic uncertainties and fragility and also due to the impact of dollar-to-euro conversion."
SMBs driving spending
Mr Contu claimed that security continues to be "a top priority" across all technology categories in the small and medium-sized business market.
"The rise of midmarket demand presents a new challenge for participants in the security space, as SMB requirements are different from those of larger enterprises," he stated.
"Security buyers from SMBs are increasingly considering security-as-a-service as an alternative for deploying security technologies, particularly for areas such as email and web security."
This is leading to more market consolidation and competitive pricing as established players acquire pure-play cloud-based specialists across the security landscape, Mr Contu added.
Working practices also an influence
Gartner claimed that spending on security software is also influenced by the evolution of new threats and working practices.
For example, as companies increase the mobility of their workforce, this situation raises new security concerns and requirements, it said.
The firm claimed that growing demand for remote access requires organisations to safeguard off-premises applications and data, as well as an array of new client devices.
"In addition, the rapid adoption of virtualisation in the SMB market is driving interest in security solutions targeting virtual environments," Gartner said.
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Posted by Alex Boardman