Analyst bears glad tidings for security channel

Network security market growth will accelerate from three to eight per cent in 2012, according to Infonetics

Infonetics has provided a welcome boost to the security channel by forecasting that network security spending will hike eight per cent this year. The analyst has also hoisted its long-term growth forecasts.

Spending on network security appliances and software inched up just three per cent last year. However, that growth rate is set to more than double in 2012 on the back of the bring-your-own-device craze, said Infonetics.

In Q4 2011, network security spending rose eight per cent to $1.58bn (£1bn), with market leader Cisco enjoying an 11 per cent sales spike. Second-placed Check Point grew sales 19 per cent, the analyst said.

Jeff Wilson, principal analyst for security at Infonetics Research, said: "The consumerisation of smartphones and the proliferation of smartphones, iPads, netbooks and other mobile devices connected 24/7 to the internet are driving companies to reassess how critical infrastructure in HQ, branch offices, remote offices and datacentres is protected from malware."

The analyst has also increased its long-term network security revenue forecast and now expects the global market to grow to $6.7bn by 2016.

The content security market is also enjoying solid growth, swelling 10 per cent in 2011 to reach $3bn, said Infonetics. McAfee held onto top spot, with Cisco leapfrogging Symantec into second place.

Sales of software-as-a-service (SaaS) content security gateway solutions leapt by 32 per cent last year and the global market is set to hit $800m by 2016, it added.

Wilson said the publicly disclosed threat events of last year had thrust security up the CIO agenda.

"The high visibility of security issues required to keep security at the top of the priority list of shrinking IT budgets will be as present in 2012 as it was in 2011," he said.