Indian BPOs and SMBs fortifying IT security market

INDIA: According to a new research report by RNCOS E-Services Pvt.Ltd, “Global IT Security Market Forecast to 2012”, the Indian IT security industry is moving strongly, and is expected to continue scoring solid growth in near future with further widening of security war chests.

IT and BPO industries are currently the two biggest consumers of security solutions in India, boosting growth in the country’s IT security industry, says the report. The continuing BPO boom and rising emphasis on compliance with IS guidelines and regulations such as HIPAA and the Sarbanes-Oxley Act by Western clients are other key factors supporting growth in the Indian security software solutions market.

Moreover, with the emergence of small and medium business (SMB segment) segment, which has seen robust growth in the last couple of years, the demand for IT security solutions is anticipated to increase in coming years because it focuses on the development of IT infrastructure. Thus, the SMB segment is projected to spend around 44-48 percent of the total IT spending in the country.

The Indian IT security market in 2006-2007 was totaled at nearly Rs. 210 Crore (US$ 46.8 Million), and by 2010 end, it is forecasted to surge to Rs. 1,958 Crore (US$ 464.4 Million) on account of increasing demand from business sector and continuous IT development in infrastructure. The growth momentum is likely to remain inclined towards the service side, where most of the solution providers will target managed services.

“Global IT Security Market Forecast to 2012” gives exhaustive information, including analysis and statistical data, on the current and future scenario of the global IT market. The report has divided the IT industry into two segments – Security Software and Security Appliances – for thorough analysis. It also provides extensive details on ongoing and emerging trends in the global IT security market, helping security vendors to identify areas for growth.

In addition, the report gives forecast on IT security market, security appliances market, security software market, IDS/IPS market, IDS/IPS shipment, UTM appliances market, SSL VPN market and antivirus software market.