Increasing fears of hacking or unauthorized intrusion has led to a boom in the market for Internet security software with the Asia-Pacific forecast to be the fastest growing region, a study said yesterday.
North America will continue to account for more than half of worldwide Internet security revenue in 2005, said International Data Corp (IDC).
"The Asia-Pacific will be the fastest-growing region for [such] software, with revenues growing 32 percent a year between 2000 and 2005," said Brian Burke, senior research analyst in IDC's Internet security program.
PHOTO: REUTERS
The growth will help hike market share in the region from 12 percent in 2000 to 17 percent in 2005, he noted. While the total Internet security software market grossed US$6 billion in global revenues last year, up 18 percent over 2000, IDC estimated double-digit growth will continue as the market reaches US$14.6 billion by 2006. "For security software vendors, the current economic instability is a double-edged sword," Burke said.
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