TrendGrowth in software market driven by security, identity protection concerns
Information security concerns propel market for software products, according to a new report by Global Industry Analysts
Growth in the global software industry will be driven by select segments such as security, data warehousing, and business intelligence. Rising data security concerns, regulatory compliance related to safeguarding critical information, and expanding use of Web-based services will all foster the market for software products and services.
San Jose, California-based Global Industry Analysts has released a report on growth trend in the software market, which says that proliferation of access levels and rising number of highly sensitive transactions have brought to fore the importance of identity management software. The process of identifying customers, opportunities, employees, suppliers, and business partners has become critical to the success of enterprises. Additionally, management of an increasingly complex operating environment with several crucial components along its chain, massive media attention over identity theft/security compromises, and growing consumer concerns over privacy protection are anticipated to drive revenue generation in the sector. With governments across the world enacting regulations aimed at protecting consumer privacy and data, organizations have been forced to adopt software for preventing the same.
Security issues are expected to remain the core concern of business organizations and governments alike, fostering the development of complex software products for addressing evolving security concerns. Growth of e-businesses and wireless applications, and increased security spending of organizations is driving the market for security software products. Worldwide information security software market has evolved into a high revenue generating industry owing to the large-scale development and deployment of advanced security products and services. With global networks at an increased risk of attacks viruses, hacking and spam, sales of security software products are expected to post impressive gains.
Software piracy and hacking are major challenges facing the computer software industry. About a third of software used globally is pirated, propelled by factors such as easy availability of pirated software, high cost of original software, disparities in regional intellectual property rights, and improper implementation of copyright laws
The report is titled “Software: A Global Outlook,” and it provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings.
