Symantec Sets its Sights on Cloud and Tablet Security En Route $22

October 7th, 2011 by Trefis Team
SYMC: Symantec Corp logo
SYMC
Symantec Corp

Symantec (NASDAQ:SYMC) unveiled some of its new products at its Vision conference – Symantec O3, a new cloud security platform and Symantec Data Loss Prevention for tablets. [1] [2] Symantec is currently the largest player in the computer security business, especially in the consumer segment. In the enterprise segment, it is one of the largest players. It competes primarily with Intel (NASDAQ:INTC) via McAfee and security offerings by Microsoft (NASDAQ:MSFT). Its two new products will help it expand its market share in the enterprise segment as more companies start migrating their infrastructure to the cloud and use tablets instead of laptops.

We currently have a $22 Trefis price estimate for Symantec, which stands nearly 25% above its current market price. Security software for businesses accounts for more than 10% of its total Trefis price estimate.

Symantec Hops on to the Tablet and Cloud Bandwagon

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The use of tablets has been increasing in enterprises and even cloud computing is on the rise with companies like Salesforce.com (NASDAQ:CRM), Oracle (NASDAQ:ORCL), SAP (NYSE:SAP) and Microsoft (NASDAQ:MSFT) launching cloud versions of their enterprise apps. Symantec O3 will allow customers to protect all their enterprise cloud applications and cloud infrastructures. It will provide access control, information protection and compliance control capabilities in a single solution, making it an ideal solution for enterprises looking to secure their public and private cloud data. With the cloud computing market expected to be worth nearly $150 billion by 2014, there is a huge opportunity in this space. [3] Symantec could potentially become a leader in the cloud security business in the next few years.

It also launched a new DLP (data loss prevention) solution for tablets which will be used to backup and protect sensitive data accessed by employees on tablets. Currently, the market for corporate data security on tablets is quite new. McAfee recently launched a mobile security solution for tablets too. If Symantec moves to launch fast, it could prevent McAfee from capturing a significant share of the market. Symantec plans to launch an iPad version first, followed by a version for Android devices.

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Notes:
  1. Symantec Unveils New Platform for Cloud Security at Vision Conference, Press Release [↩]
  2. Symantec unveils data loss prevention solution for tablets, Fierce Mobile [↩]
  3. Gartner Says Worldwide Cloud Services Market to Surpass $68 Billion in 2010, Gartner [↩]