Gartner reports a rise of $22 billion in the Security software market in 2015

Global security software market witnessed a rise of 3.7 percent in revenue at USD 22.1 billion in 2015 over the previous year, research firm Gartner said today. Security information and event management (SIEM) remained the fastest-growing segment in 2015 with 15.8 per cent growth, while consumer security software showed the sharpest decline at 5.9 per cent year-on-year, Gartner said in a statement. The top five vendors, who together accounted for 37.6 per cent of the security software revenue market share, displayed a collective decline of 4.2 per cent in 2015. The rest of the market (others) grew strongly at 9.2 per cent y-o-y. “The below-market growth seen by these large vendors with complex product portfolios is in contrast to the market growth and disruption being introduced by smaller, more specialised security software vendors,” Gartner Principal Research Analyst Sid Deshpande said. Symantec led the market with 15.2 per cent share, followed by Intel (7.9 per cent), IBM (6.6 per cent), Trend Micro (4.5 per cent) and EMC (3.4 per cent). This report by Gartner comes right after the firm pointed that spending on IT globally is forecast to be flat this year — totaling $3.41 trillion — slightly up from last quarter’s forecast of negative 0.5 percent growth. The current Gartner Worldwide IT Spending Forecast assumed that the UK would not exit the European Union. PTI