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Editor: Dominic Fenn
ISBN: 1-84168-055-9

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EXECUTIVE SUMMARY

This report looks at IT (information technology) security from four perspectives: security products and services, security breach recovery, the Year 2000 problem and software piracy. These ‘sectors’ are separate and distinct, and this report does not include them within an overall market size figure.

In 1999, Key Note estimates that UK spending on security products and services, as defined in this report, totalled £651m. Using a broader definition of IT security, including physical security measures, backup software, maintenance and support, etc., Key Note places the market’s value at £2.69bn in the same year. Value figures for the other areas of the market are shown in the relevant sections of the report.

The growth of complex, non-proprietary, multifaceted computer networks, which are increasingly open to companies and individuals outside specific organisations, is increasing the importance of security for organisations. It is also placing network security and information security at the heart of the security issue. Despite its strong growth, the IT security market remains fragmented and diverse.

However, consolidation is taking place, since size — as manifested in the ability to develop global products and sell comprehensive security solutions — is becoming a competitive advantage in the market. The key issues facing the IT security industry are:

• the increased use of the Internet and the growing incidence of attacks on websites, which are increasing the importance of web security products and services
• the growth in the use of application service providers (ASPs), which is increasingly placing company security in the hands of third parties
• the impact of the Year 2000 problem on overall security, given the rush to get projects finished in 1999 (has security been compromised?)
• official government action, such as the 1998 Data Security Act and Government efforts to fight ‘cyber crime’, both of which are placing new responsibilities on companies
• encryption issues, including the need for more conformity and the interoperability of encryption products, without which the use of methods such as public key infrastructure (PKI) will be severely restricted
• the ongoing rise in virus infections and the continued discovery of security flaws in leading software packages.

Key Note estimates that expenditure on security products and services will reach £1.76bn by 2004. Using the broader definition of IT security stated earlier, Key Note forecasts the market’s value at £4.89bn in the same year.

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Text © 2000 Key Note

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Last updated by Jacob van Eldik 19th June 2000