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LONDON The global Internet security market is expected to grow at an annual 16 percent over the next five years to reach $58.1 billion by 2010, according to a soon to be published report from Business Communications Co Inc.
The company says the recent spate of serious Internet security threats will continue to be the key market driver.
BCC (Norwalk, CT) estimates that between 2002-2004 the market for Internet security products increased at an average annual growth rate of over 30 percent. This year, BCC estimates it will be worth $27.7 billion.
It suggests that following the huge increase following incidents surrounding 9/11, which required increased security on all fronts, the next five years will see slower but still substantial growth.
The report focuses on hardware appliances, software solutions, and services, such as consulting and management of security services. It notes that currently, the market is dominated by software solutions.
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