The IT security products markets in Asia Pacific excluding Japan (APEJ) is expected to grow at an annual rate of 11.66 percent and to reach US$5.79 billion by 2017, according to IDC's recent research.
In 2012, the revenue for security products (hardware and software) market in APEJ amounted to US$3.34 billion, a 12.33 percent increase from 2011.
Naveen Hegde, research manager of Asia/Pacific Infrastructure Software Research at IDC, attributed the increasing demand to companies wanting to be risk averse to cope with threats from new technologies.
"As the industry undergoes a transformation enabled by the four pillars of technology (cloud, mobility, social and big data), security, powered by compliance, will be playing a very crucial part in enabling this transformation."
How the vendors fared in 2012
According to IDC, Cisco retained its market leader position for security appliance in 2012. Check Point and Fortinet gained market shares, putting themselves in second and third positions respectively, while Juniper Networks continued to lose market shares, dropping to fourth position among the security appliance vendors.
For security software, Symantec continued to top the chart as it has expanded its product offering beyond the traditional endpoint security market. The other top four vendors include Trend Micro, IBM, Intel-McAfee ad EMC (RSA).
The research also found out that many APEJ organisations have set aside more budget for IT security for the next six to 12 months. Companies now understand that they should be more proactive towards security rather than only reacting and responding to security incidents.
"It is important that organisations take a proactive approach to identify assets that could be vulnerable to attacks and put them at risk. At the same time, they need to be able to share what is necessary while protecting what they don't want shared," said Hegde.
The research also revealed that the endpoint function is leading the overall market in terms of revenue size, followed by Unified Threat Management (UTM) and Identity Access Management (IAM) markets.
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