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Global market for security software keeps on growing

If you're in the IT security business, and you're not part of the big five, every day is Christmas day. Gartner just released its latest annual analysis of the security software market, and it says that globally, it grew 3.7 per cent in 2015, compared to the year before.

Worldwide revenue hit $22.1 billion.

The fastest growing segment, showing 15.8 per cent growth, was security information and event management (SIEM), while consumer security software dropped 5.9 per cent. Gartner called it 'the sharpest decline'.

The top five vendors (Symantec, Intel, IBM, Trend Micro and EMC), accounted for more than a third (37.6 per cent) of the total market share, down 3.1 per cent year-on-year. There is also a 'collective decline' of 4.2 per cent, while others rose 'strongly', 9.2 per cent.

"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," said Sid Deshpande, principal research analyst at Gartner.

If I were Symantec, though, I'd be pretty worried. Even though the company did maintain the number one position on the list, that only shows how far ahead it was – it has suffered a third consecutive year of revenue decline. Gartner also said this was the highest decline in revenue in the last three years, as well.

Security software revenue dropped to $3.4bn, down 6.2 per cent, while consumer and endpoint protection platforms dropped 7 per cent.

Intel didn't do any better, too, with revenues falling 4.1 per cent in 2015, to $1.75 billion. IBM was the only one of the top five to show any growth.

Image Credit: Den Rise / Shutterstock

Sead is a freelance journalist with more than 15 years of experience in writing various types of content, from blogs, whitepapers, and reviews to ebooks, and many more, across sites including Al Jazeera Balkans, TechRadar Pro, IT Pro Portal, and CryptoNews.