IT security firms to reap gains from increasing Web attacks
Firms like Symantec, Quick Heal and Trend Micro are looking at riding the growth in the IT security sector as more and more enterprises are turning to these firms for solutions in view of increasing Web attacks.
India's IT security market, in the enterprise segment, is pegged at about USD 130 million, and research firm Frost and Sullivan (F&S) has estimated that it would grow at a CAGR of 19.21 per cent over the next few years. "Currently, more than 50 per cent of our business comes from large corporations and we feel they are well equipped to handle such attacks. However, it is the small and medium businesses that needs a push," Trend Micro Country Manager (India) Amit Nath told media.
According to F&S, a significant number of firms surveyed in India did not have any fixed budget for IT security and the procurement of IT security products was purely (crisis) demand based. Besides, adherence to safety standards was "abysmally low compared to other fast-growing economies globally".
