Global security service spending should reach $35.1BN in 2011 (from $31.1BN in 2010) according to Gartner-- before reaching $38.3BN in 2012 and over $49.1Bn by 2015.
The analyst forecasts security spending in W. Europe will reach $11.9BN by 2012 and total $14.4BN by 2015.
Such growth is due to the rapid changes the security services market is undergoing, with "a growing number of security technology providers offering their technologies as services, and customers often preferring services to save on operational costs while they consolidate resources to more strategic security related initiatives," Gartner says.
The WW IT management segment of security services will reach $14.9BN in 2015 (up from $8BN in 2011) to almost double the security services market for managed security in size, as organisations look at managed security services (MSS) to maximise resources while reducing ongoing expenditure on security.
Gartner says SMBs will also show high demand for MSS to provide additional security expertise their organisations maybe lacking.