Security software market to grow at 24% CAGR till 2007: IDC

IDC estimates the security software market in India to grow at a CAGR of 24.1% over the next five years, with revenues of $43 million by 2007. This market for H1 2003 was estimated at $11.3 million, an increase of about 30% over H2 2002. 

According to IDC, India is poised to be one of the fastest and most aggressive markets in the security software space in the APac region. Growth in outsourcing and SME space as well as establishment of larger MNCs in the country will be some of the key drivers for this market. 

Most technocrats and business tycoons have begun to realize the threats on their IT infrastructure over the long term, which has spawned a new breed of software to hold center stage. This, IDC states, has brought about the strong growth in the India's security software market.

Essentially, the high price points of such solutions had dissuaded SME customers to go in for these technologies. However, this segment is expected to drive the growth of the security software market in the future.

According to IDC, Firewalls/VPNs will continue to draw a lot of attention as enterprises are perennially looking to protect their basic IT infrastructure from the newer attacks. There is also likely to be considerable interest in Security 3A software (authentication, administration and authorization) with more security software certifying companies on the anvil.

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