Worldwide security software will remain one of the fastest-growing segments within the enterprise software market this year, according to Gartner. The research firm projects revenue to exceed $16.5 billion in 2010. That represents an 11.3 percent increase from 2009 revenue of $14.8
Security software vendors that have a balanced mix of channel, new license and maintenance revenue streams and flexibility in contractual terms, such as software as a service (SaaS), open source and outsourcing, have the strongest options to even out risk and generate continued growth, said Ruggero Contu, principal research analyst at Gartner.
"Shrinking discretionary spending budgets have heightened competition for new maintenance and license revenue streams and placed a renewed emphasis on vendor performance and viability," he added.
The security software market continues to benefit from compliance-related requirements, said Gartner, as well as the need to keep up with ever-increasing sophistication and volume in the threat landscape.
“During the next six to 12 months, products delivered as SaaS and appliances will continue overtaking traditional software licensing as the preferred purchasing methods,” said Matthew Cheung, senior research analyst at Gartner. “Delivery as a suite in subsegments such as enterprise endpoint security, identity and access management (IAM), and Web security will be the most prevalent.”
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