Many companies now use customer databases and other IT tools such as address verification software
to support their operations.
Since firms are relying heavily on technology, the International Data Corporation (IDC) believes they will continue investing in various security resources over the coming years.
The group said this is necessary because cyber crimes are becoming increasingly "well-organized and efficient".
IDC noted that the nature of the threat posed by cyber criminals is changing due to the emergence of devices such as tablets and smartphones.
As a result, the use of applications on mobile devices is likely to be more heavily regulated, while efforts to tackle employee fraud could also be stepped up.
Marco Lam, a market analyst at IDC, commented: "The overall security software market will continue to experience a decent growth, despite the signs of economic slowdown."
He added that detection and defense tools will help businesses to safeguard their assets, including sensitive data.
Posted by Richard Jones