Expanded security software sector witnessed a 12% growth in 2010
The year 2010 marked a significant turning point for two major players in the security software market - EMC and Symantec. According to a Gartner report, the market experienced a 12% growth from 2009 to 2010, after a fall in revenues due to a slow economy and restricted IT budgets.
EMC, a prominent data storage solutions provider, saw its revenue grow by more than a quarter from 2009 to 2010, starting from a smaller base. The company held a market share of 3.8% in 2010. On the other hand, Symantec, a leading cybersecurity software vendor, reported a 5.8% revenue growth compared to 2009, holding a market share of almost 19%. However, EMC's growth was more significant.
The growth patterns of these vendors varied in 2010. While mature areas like endpoint security and Web access management showed single-digit growth, security information and secure Web gateway products expanded much faster. This trend was a reflection of the rapid evolution in the security market, with new delivery models and technologies being introduced.
Gartner analyst Ruggero Contu stated that the sector's largest vendors had expanded their product portfolios through acquisition. This strategy was evident in the cases of both EMC and Symantec. EMC, for instance, was later acquired by Dell Technologies in 2016, while Symantec is now part of Broadcom.
Contu also highlighted the increasing popularity of security as a service within the market. This shift towards cloud-based solutions was a response to the growing digitalization and cloud adoption, which placed greater emphasis on data protection.
Post-2010, both EMC and Symantec continued to be significant players in their respective markets. EMC's growth in the data and security infrastructure sector was driven by the transformational growth in data volumes and the demand for integrated solutions. Symantec, meanwhile, capitalized on the trends of rising digitalization and regulatory pressures on data protection.
However, the market landscape has changed over the past decade. For example, according to 2024 data, Microsoft and major cloud providers dominate government software security applications, reflecting the wider industry transitions to cloud and AI-enhanced security services.
In summary, while Symantec maintained a major cybersecurity market share early in the decade, it faced increased competition, leading to acquisition by Broadcom in 2019. EMC grew as a leading data and security infrastructure player until its 2016 acquisition by Dell, which further integrated and expanded its market presence. The security software market has grown rapidly post-2010, with shifts favoring cloud-native and AI-driven solutions alongside the traditional leaders.
For exact financial growth rates and market share by year for these companies post-2010, specialized industry reports or company filings would be required, as such detailed historical vendor-specific data was not found in the provided search results. Additionally, new technologies are being introduced in the security market, often by startup companies, adding another layer of dynamism to this ever-evolving sector.
finance technology: EMC, for instance, was later acquired by Dell Technologies in 2016, a deal reported to be worth around $67 billion, demonstrating substantial financial growth and a strategic move to expand market presence.
technology: Symantec, on the other hand, capitalized on the trends of rising digitalization and regulatory pressures on data protection, a response to the growing importance of technology in securing sensitive data.
