TelecomTV TelecomTV
  • News
  • Videos
  • Channels
  • Events
  • Directory
  • Smart Studio
  • Surveys
  • Debates
  • Perspectives
  • DSP Leaders World Forum
  • DSP Leaders
  • Great Telco Debate
    • |
    • Follow
    • |
    • Subscribe
  • |
  • More
  • Webcasts
  • Surveys
  • Debates
  • Perspectives
  • Great Telco Debate
  • |
  • Follow TelecomTV
  • |
    • Subscribe
    • |
  • About
  • Privacy
  • Help
  • Contact
  • Follow TelecomTV
  • About
  • Privacy
  • Help
  • Contact
  • Sign In Register Subscribe
    • Subscribe
    • Sign In
    • Register
  • Search

Tracker

TelecomTV TRACKER

Sourced by TelecomTV's TRACKER platform
from IDC

Tracker

Western European investments in security technologies will be driven by banking, manufacturing and professional services through 2020, says IDC

Via IDC

Nov 1, 2016

MILAN, Italy, November 1, 2016 – The first Worldwide Semiannual Security Spending Guide from International Data Corporation (IDC) confirms strong growth in European companies'' security-related spending across hardware, software, and services. The Western European market will grow from $19.5 billion in 2016 to $26.4 billion in 2020, generating a compound annual growth rate (CAGR) of 8% over the five-year forecast period, more than twice as fast as the overall IT market in the region. The new spending guide expands on IDC''s previous security forecasts by offering greater detail on spending by geography, industry, company size band, and technology.

“There are three mega-drivers of security spending in Western Europe,” said Duncan Brown, head of European Security at IDC. “A dynamic threat landscape, new technology adoption required by digital transformation, and regulatory upheaval led by GDPR combine to drive the market strongly through to 2020.”

Security-related services represent 55% of all security spending in 2016, and they will continue to drive growth through 2020. Managed security services will grow at nearly 13% CAGR and they are set to overcome integration services as the largest security category by 2020. Among software markets (30% of total security spending overall), endpoint security will remain the largest segment, but the strongest opportunities for growth will lie in security and vulnerability management, and identity and access management. The security hardware market will remain relatively smaller and generate slower but still sustained growth (5.3% CAGR), driven primarily by unified threat management appliances.

"Security remains a key concern among European companies, and investments are on the rise not only among large enterprises in highly regulated sectors, but also among SMBs and in industries, such as the manufacturing and professional services sub-segments, which were not as security conscious in the past," said Serena Da Rold, senior research manager, Customer Insights and Analysis. "As the adoption of cloud and mobile solutions expands, and companies open up to external partners and clients on social platforms, their needs for access control are is becoming more sophisticated, calling for new investments in next-generation security solutions."

SMBs are increasingly adopting cloud and mobile solutions, and they are opening up to external partners and clients on social platforms, therefore their needs for access control are becoming more sophisticated.

Nearly 42% of the market for security solutions in 2016 will be concentrated in four industries: banking ($2.9 billion), discrete manufacturing, process manufacturing, and professional services. These four will remain the largest spenders in security technologies, continuing to grow faster than the market average. Nevertheless, even faster growth in security investments will be generated by utilities and healthcare, as well as professional services, which will all increase by more than 9% CAGR through 2020.

Managed security services and integration services will continue to attract the lion''s share of security spending in the four industries making the largest investments, growing to represent around 48% of total security spending in 2020 in banking and professional services, and 43% in manufacturing. In utilities and healthcare, the strongest growth will materialize in security and vulnerability management software, as well as in managed security services.

Figure 1

Figure 1

From a geographic perspective, Western Europe accounts for around 26% of the total Worldwide worldwide security market. The three largest markets — the U.K., Germany, and France — will represent over 60% of security-related investments in the region. The U.K., the Netherlands, and Germany, will generate the strongest growth opportunities throughout the forecast period.

The Worldwide Semiannual Security Spending Guide quantifies the global revenue opportunity for both core and next-generation security purchases. The guide offers detailed forecast data for security spending by 20 industries and 5 size bands across eight 8 regions and 53 countries, including the 16 Western European countries. Unlike any other research in the industry, the comprehensive spending guide was designed to help IT decision makers to clearly understand the industry-specific scope and direction of security-related spending today and over the next five years.

About IDC Spending Guides

IDC''s Spending Guides provide a granular view of key technology markets from a regional, vertical industry, use case, buyer, and technology perspective. The spending guides are delivered via pivot table format or custom query tool, allowing the user to easily extract meaningful information about each market by viewing data trends and relationships.

Related Topics
  • Europe,
  • Finance & Banking,
  • IDC,
  • Manufacturing & Industry 4.0,
  • News,
  • Research and Trials,
  • Security,
  • Tracker

More Like This

Access Evolution

DISH to acquire Republic Wireless

Mar 8, 2021

Open RAN

Casa Systems unveils revolutionary 5G O-RAN mid-band radio

Mar 8, 2021

Access Evolution

Nokia to supply Cibicom with mission critical LTE network across Denmark

Mar 8, 2021

Sustainability

IBM study finds advancing women is not a top priority for 70 percent of global organizations surveyed

Mar 8, 2021

Sustainability

Cloud Computing could eliminate a billion tons of CO2 emissions over the next four years, claims IDC

Mar 8, 2021

This content extract was originally sourced from an external website (IDC) and is the copyright of the external website owner. TelecomTV is not responsible for the content of external websites. Legal Notices

Email Newsletters

Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.

Subscribe

Top Picks

Highlights of our content from across TelecomTV today

18:43

Cloud Native Isn’t Enough - Telcos Need to Adopt Webscale Applications

35:16

Defining a new DSP/vendor dynamic for better business outcomes

22:44

Telefónica CTIO Enrique Blanco on the potential of an open ecosystem

38:50

Strategic options for telco cloud deployments

  • TelecomTV
  • Decisive Media

TelecomTV is produced by the team at Decisive Media

Menu
  • News
  • Videos
  • Channels
  • Directory
  • Smart Studio
 
  • Surveys
  • Debates
  • Perspectives
  • Events
  • About Us
Our Brands
  • TelecomTV Tracker
  • TelecomTV Perspectives
  • DSP Leaders
  • DSP Leaders World Forum
  • The Great Telco Debate
Get In Touch
[email protected]
+44 (0) 207 448 1070

Request a Media Pack

Follow
  • © Decisive Media Limited 2021. All rights reserved. All brands and products are the trademarks of their respective holder(s).
  • Privacy
  • Terms
  • Legal Notices