Research firm Gartner is predicting that the worldwide security technology and services market will reach $67.2 billion in 2013, up 8.7 percent from $61.8 billion in 2012. Gartner expects the market to grow to more than $86 billion in 2016 (h/t Help Net Security).
"With security being one of the top IT concern areas, the prospect of strong continued growth is assured," Gartner research director Ruggero Contu said in a statement. "The consistent increases in the complexity and volume of targeted attacks, coupled with the necessity of companies to address regulatory or compliance-related issues continue to support healthy security market growth."
According to Gartner analysts, the three main trends shaping the security market moving forward are mobile security, big data, and advanced targeted attacks (ATAs).
Gartner research director Lawrence Pingree says a defense-in-depth strategy is required to mitigate the threat from ATAs. "Organizations must continue to set the security bar higher, reaching beyond many of the existing security and compliance mandates in order to either prevent or detect these newly emergent attacks and persistent penetration strategies," he said. "This layered approach is typical of many enterprise organizations and is often managed in independent ways to accomplish stated security goals, namely, detect, prevent, respond and eliminate."