IDC: Information Security Market to Exceed $8B by 2004
The worldwide market for security consulting, implementation, management and training services will increase at a compound annual growth rate (CAGR) of 26 percent, from $5.5 billion in 1999, to $17.2 billion in 2004, according to a new study from IDC. The U.S. market will represent nearly half the worldwide spending total, accelerating from $2.8 billion to $8.2 billion in the same time frame.
In the United States, IDC believes that managed security services and security education and training will drive much of the spending. The 1999-2004 CAGRs in these two segments are forecast to reach 28 percent and 26 percent, respectively. By comparison, the U.S. total CAGR is expected to be 24 percent.
Outside the U.S., Asia/Pacific is expected to be one of the fastest-growing regions for information security services. Demand is expected to increase at a 30 percent CAGR from 1999 to 2004.
The IDC report, Information Security Services Worldwide Market Forecast and Analysis, 1999-2004, describes the worldwide market for information security consulting, implementation, management and monitoring, and education and training services across seven global regions.