Global security software market revenues rose 8 per cent to $ 19.2 billion last year, spurred by practices like bring your own device ( BYOD), among other issues, global research firm Gartner said on Thursday.
Worldwide revenues from security software market totalled $ 17.7 billion in 2011, the firm added.
"The evolution of new threats and working practices, such as bring your own device (BYOD), is driving spending on security," it said.
The 2012 security market saw a continuation of increasing demand for consumer and enterprise security tools as McAfee's high growth of 37 per cent boosted the market's overall growth rebound in 2012, Gartner Research Director Ruggero Contu said.
Spending on security software is also influenced by the evolution of new threats and working practices, he added.
"For example, as companies increase the mobility of their workforce, this situation raises new security concerns and requirements. Growing demand for remote access requires organisations to safeguard off-premises applications and data, as well as an array of new client devices," he said.
In addition, the rapid adoption of virtualisation in the SMB (small and medium business) market is driving interest in security solutions targeting virtual environments, he added.
"Security continues to be a top priority across all technology categories in the SMB market. The rise of midmarket demand presents a new challenge for participants in the security space, as SMB requirements are different from those of larger enterprises," Contu said.
Security buyers from SMBs are increasingly considering security as a service to serve as an alternative for deploying security technologies, particularly for areas such as email and web security, he added.
Such requirements are leading to market consolidation and more competitive pricing, as established players acquire pure-play cloud-based specialists across the security landscape, Contu said.
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