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Gartner predicts worldwide security software revenue to grow 11 per cent in 2008

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Growing awareness of the damage caused by security breaches, together with the increasing demand for a more mobile and remote workforce, will keep the worldwide market for security software buoyant, according to Gartner. Worldwide security software revenue is projected to total $10.5 billion in 2008, an 11.2 per cent increase from 2007. The market is forecast to surpass $13.1 billion in 2012.

"Organisations are increasingly accepting the need to have a more 'open' connectivity with business third parties," said Ruggero Contu, principal research analyst at Gartner. "Consequently, assessing third-party security and defining how to securely communicate are becoming critical factors for businesses."

Mr. Contu said that small and midsize businesses (SMBs), in particular, are increasing their interest in security technology and services and are gradually moving away from stand-alone tools to integrated multifunctional products.

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