The security solutions software market in India is expected to touch $130 million by 2009 from $36.3 million in 2004 with the next wave of growth coming from small and medium enterprises, according to research firm IDC.
The market for security software solutions has been growing at a rapid pace showing a year-on-year growth of 45 per cent and is expected to grow at 40 per cent in 2005, a study by IDC added.
"Adoption of security solutions in 2004-05 was concentrated mainly amongst large and mid-size enterprises in the country," it said. Typically, the inherent nature of these enterprises - vast geographical spread of operations, increased need for data protection in the light of increasing security threats, and protection requirements of bigger networks drove their need for security solutions, it added.
The emergence of malicious worms and viruses like MS Blaster, Code Red and Nimda further resulted in enterprises increasing their spend on security solutions.
The continuing business process outsourcing boom and increasing stress on adherence to information security guidelines and regulations, like HIPAA and the Sarbanes-Oxley Act by Western clients also contributed to the growth of the security software solutions market, IDC said.
