Published Date : May 23, 2016
ALBANY, New York, May 23, 2016: MarketResearchReports.biz is a top market intelligence document provider. The latest report to be added to its collection on the global industries of ICT is “Global IT Security Spending In Government Sector 2016-2020.” The report encapsulates the key details that are necessary in understanding the current scenario of security spending in the IT sector and the activities that government bodies are performing to stay ahead in the competition.
The global IT security spending in government sector was in a phase of major growth in 2015 as most of the government organizations in developed economies started a large scale adoption of IT security solutions.
According to the report, the global IT security spending in government sector is increasing at a CAGR of 9.02% within a forecast period of 2016 to 2020. The report provides a full coverage of this forecast period and all the scenarios that are expected to take place within it. It also calculates the size of this market considering several factors such as the overall revenue stream gained from the sales of IT security products and services in the government sector.
A key driver for the global IT security spending in government sector is stated to be the increasing use of mobile devices among the people concerned. With handheld devices evolving in computing power and discreetness on a daily basis, it is a major focal point for the global IT security spending in the government sector and the manner in which it is proceeding.
However, the global IT security spending in government sector is currently being hampered by the high costs associated with the implementation of the said IT security products and services. These high costs render some of the premium products and services out of reach for government bodies in many developing economies.
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The future of the global IT security spending in government sector could possibly lie in the increasing popularity of IT security solutions that are derived from SaaS providers. The growing use of SaaS packages, coupled with modern implementations such as cloud computing, could help reduce the overall costs of the IT security products and services, thereby enabling access to a large client base that is currently untapped.
The report also provides a region-based reports of the global IT security spending in government sector, in which it considers the three major regions of the Asia Pacific, the Americas, and EMEA.
Throughout the reports of the competitive landscape in the global IT security spending in government sector, the report considers four players to be at the top of this market. It provides major details for each of these players: Juniper Networks, Fortinet, Cisco Systems, and Check Point Software Technologies. Other prominent companies profiled in the report include Trend Micro, Sophos, FireEye, Palo Alto Networks, Dell SonicWall, Arbor Networks, F5 Networks, and Barracuda Networks.
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