Istanbul, November 28, 2012 – IT security awareness has been on the rise among Turkish organizations. The need for better regulatory compliance and risk management, as well as the emergence of new business models like cloud and virtualization, have been driving demand for security software and solutions. According to a recent report by market research and advisory company IDC, the Turkish security software market in 2011 totaled $63.84 million in U.S. dollar terms and is expected to grow by approximately 11% in 2012. In the longer term, IDC expects the Turkish security software market to expand at a compound annual growth rate (CAGR) of 10.6% by the end of 2016.
“After two high-growth years in 2010 and 2011, the Turkish security software market will continue growing, but at a more conservative rate,” says software market research analyst Ayşe Kaptanoğlu, IDC Turkey. “Security needs reflect new technology trends. Organizations are adopting the latest technologies, such as virtualization, cloud computing, and mobility, which subsequently drives the uptake of security solutions. Security investments in Turkey remain below optimum levels, but we can see that companies increasingly view security as a business need and have started to invest in it accordingly.”
In 2011, the top IT security software vendors in Turkey were Symantec, McAfee-Intel, Websense, Eset and Kaspersky. Taken together, these vendors controlled more than a half of the total market. Finance was the largest vertical in terms of security software investment last year, while the government sector ranked second and the communications sector placed third. Other major verticals driving security solutions spending in the country in 2011 were home and combined manufacturing.
“Besides new technology uptake, one of the main drivers of security spending in Turkey has been and will continue to be compliance with government regulatory requirements aimed primarily at data protection and privacy,” says Kaptanoğlu. “Such policies have been encouraging awareness of IT governance standards, as well as risk-management issues like business continuity and information security.”
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