The Australian IP VPN market is predicted to reach $855 mil by 2007, according to research from market analyst IDC. The analyst?s ?Australian IP VPN Services and Equipment Forecast and Analysis, 2002-2007? found that the total IP VPN market is expected to grow by at least $100 mil every year over the next five years.
Spending on security solutions including software, hardware and services in the region, excluding Japan, is estimated to hit 1.7 bil dollars this year and grow 25% yearly to 4.1 bil dollars in 2007, IT research house IDC said in a statement.
Today, nearly half of all securities transactions are still paper-based and 40% of securities institutions manually enter data at least twice for the same transaction. In fact, more than half of these institutions still rely on manual methods such as facsimile, telephone or email to complete transactions, according to a recent report by Gartner G2.
IDC expects spending on security and business continuity worldwide to grow twice as fast as IT spending over the next several years, surpassing $116 billion by 2007.
Companies now get hacked, on average, 30 times a week, with 15 percent of attacks resulting in system entry. For the first three months of this year, more than 42,000 attacks were reported to CERT monitors. And that’s only a partial reading: The FBI says just one in five attacks are reported, thanks to reluctance on the part of companies to broadcast security failings to customers and shareholders. Worse yet? The new viruses are becoming more sophisticated: Slammer scanned more than 55 million computer systems per second, 100 times faster than the previous Code Red virus, says Allan Paller, director of research at the SANs Institute, a Washington, D.C.-based security information center.