US IT security market to reach $20b in 2008

The IT security market in the US is expected to top the $8 billion a year mark by 2008, equating to an annual rate of growth of around 19 per cent since 2001, according to research just released.

The report from the Freedonia Group, a Cleveland, Ohio-based market research firm, says that much of the market growth will come from a surge of interest in integrated IT security systems.

Other areas of the market expected to drive the growth include consulting/risk assessment and managed security services, as well as encryption hardware, biometric access controls, content protection software, VPN hardware and software, and security management software.

Freedonia says that growth is also expected in market sectors that have not seen significant levels of growth to date, including the health-care industry and consumer markets.


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