Security software revenue to hit E2.4bn

The market is growing at an annual rate of nine per cent, says analyst Gartner

Market to grow at a compund annual rate of nine per cent

Security software revenue will hit E2.4bn (£1.6bn) in Europe, the Middle East and Africa (EMEA) this year, rising to E3.5bn (£2.4bn) by 2011.

The market is growing at an annual rate of nine per cent, according to a report from research group Gartner, published today.

Organisations in the region are becoming more sophisticated in choosing security products and the supplier market is maturing. Large software suppliers like Microsoft and Oracle are expanding their security offerings and making strategic acquisitions. And the merger of Veritas and Symantec in 2004 highlights increasing consolidation within the market, says Gartner.

"Traditionally, the security software market has been dominated by best-of-needs vendors, but we are starting to see a gradual consolidation around fewer players," said Gartner analyst Ruggero Contu.