The Global IT Security Market in India will continue to grow as spammers, scammers and malicious attacks on corporate systems increase in the coming years, according to a new report.

 

A new study from RNCOS, a team of industry experts who analyze data collected from inside sources, says the Indian IT security industry is moving strongly and is expected to continue growing though 2012.

 

The report, called “Global IT Security Market Forecast to 2012”, shows IT and BPO industries are currently the two biggest consumers of security solutions in India, boosting growth in the country's IT security industry.

 

The study also noted that a BPO boom and increased emphasis on compliance with IS guidelines and regulations such as HIPAA and the Sarbanes-Oxley Act by Western clients will drive growth in the Indian security software solutions market.

 

The overall Indian IT security market has been tremendously successful in recent years registering $ 46.8 Million in spending in 2006-2007 and by the end of 2010.

 

This growth will come mainly on the back of increasing demand from the business sector and continuous IT development in infrastructure. The growth momentum is likely to remain inclined towards the service side where most of the solution providers will target managed services, according to the study.

 

Another important factor in the growth has been the expansion of the SMB segment, which has seen robust growth in the last couple of years with the demand for IT security solutions is anticipated to increase in coming years because it focuses on the development of IT infrastructure.

 

In this market the SMB segment is projected to spend around 44 to 48 percent of the total IT spending in the country.

The report has divided the IT industry into two segments – Security Software and Security Appliances –  for thorough analysis. It also provides extensive details on ongoing and emerging trends in the global IT security market, helping security vendors to identify areas for growth.

In addition, the report gives forecast on IT security market, security appliances market, security software market, IDS/IPS market, IDS/IPS shipment, UTM appliances market, SSL VPN market and antivirus software market.