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TECH SUPPLIER Dec 2018 - Market Forecast - Doc # CA42531618

Canadian IT Security Hardware, Software, Services, and Cloud Forecast, 2018–2022

By: Kevin LonerganResearch Manager, Security and Infrastructure

Abstract

This IDC study forecasts all IT security markets in Canada, including hardware, software, SaaS, and security services, down to the subfunctional level as defined in IDC's Worldwide Security Products Taxonomy, 2018 (IDC #US43535614, February 2018). Significant changes were made to the taxonomy for 2018, which are outlined in the Market Definition section. This document is the sixth in a series of yearly security forecasts that are published by IDC Canada. The security market was worth $2.6 billion in 2017 and is expected to reach approximately $3.79 billion by 2022, growing with a five-year CAGR of 7.8%.

"Security software, led by growth in SaaS, will outpace security hardware revenue growth over the forecast period," says Kevin Lonergan, research manager, IDC Canada. "This is indicative of the effect cloud adoption is having on the security products market. Regardless of deployment type, Canadian organizations will be increasing their adoption of third-party services to manage and monitor their security products and secure their IT environments."


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