Infotech Lead Asia: The network security market including appliances and software increased 1.7 percent to $1.5 billion y-0-y in the first quarter of 2013.
However, the network security market declined 9.3 percent sequentially, Infonetics Research said on Tuesday.
The market research agency noted that security vendors such as Palo Alto Networks and WatchGuard posted slight growth in Q1 2013.
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New solutions that offer improved security efficacy and huge performance increases will stimulate spending on network security appliances and software through at least 2017.
Meanwhile, content security gateway appliance and software revenue dipped 6 percent in Q1 2013 to $699 million against Q4 2012.
SaaS (software-as-a-service) sales increased 44 percent from the year-ago 1st quarter.
Infonetics Research is forecasting that there will be 17 percent CAGR growth during 2012 to 2017.
Leaders in the content security SaaS market include Microsoft, Symantec, McAfee, Cisco and Proofpoint.
Jeff Wilson, principal analyst – security at Infonetics Research, said: “Blue Coat announced its repositioning, which focuses the company squarely on security but broadens its reach. Websense was recently bought out by Vista Partners, who will take it private and focus on long-term growth strategies. These events open opportunities for serious market share changes in 2013.”
As companies continue to expand the technologies they use to improve their overall security, the worldwide security technology and services market is forecast to reach $67.2 billion in 2013, up 8.7 percent from $61.8 billion in 2012, according to Gartner. The market is expected to grow to more than $86 billion in 2016.