Network Security Market Spending Up 7%

The network security appliance and software market has seen an increase in revenue on the order of 7 percent between the first and second quarter of this year, signaling a steady rise in the popularity of the technology, according to a recent report by Infonetics Research.

The report, Network Security Appliances and Software,” looks at the worldwide and regional market share, market size and forecasts of the market through 2014. Among its findings, the report notes that the market totaled $1.4 billion by the end of the second quarter of 2010, and is on track to grow to almost $7 billion in 2014.

As we expected, the network security appliance and software market mostly followed normal seasonal patterns in the second quarter, growing slightly over the first quarter,” said Jeff Wilson, principal analyst for security at Infonetics Research. Cisco emerged from the component supply issues reported last quarter and noted that all security products are now shipping with standard lead times. Juniper and Check Point both saw growth across a wide variety of product types, customer segments, and geographies, with no one major contributor to strength in 2Q10.”

The market, he added, is up 21 percent from the second quarter of 2009, the pit of the recession.”

Revenue for the top three vendors in the space was up in the second quarter, with Juniper leading with an increase in revenue of 11.9 percent. Check Point had the second largest amount with a 9 percent increase, while Cisco rounded out the top three with an 8.3 percent increase.

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