Jun, 2003 : Forrester: Europe's Security Market to Grow

📅 June 27, 2003 - Europe's managed IT security market will grow to ?4.6 billion in 2008 and enterprises will encounter difficulties finding in-house personnel with the skills to cope with increasingly volatile IT security environments, according to a recent study published by Forrester Research (forrester.com). This shortage, Forrester believes, will create opportunities for managed IT security services, especially in the small and medium-sized enterprise market.

"Managed firewalls will claim 36 percent of the total 2008 market, generating ?1.7 billion in revenues by 2008, at a CAGR of 25 percent," said Forrester Research senior analyst Lars Godell. "Most large firms already have a firewall, but the lack of internal skills, high cost of internal management, and a more mature managed service market will drive conversion to managed firewall services.
Forrester believes that small and medium-sized enterprises - 99.75 percent of all European firms - are the untapped opportunity for managed security vendors. Forrester calculates that SMEs will account for ?3 billion, or 66 percent of the total ?4.6 billion managed IT security market.
Forrester Research is a research and analysis firm based in Cambridge, Massachusetts.