Symantec Update: Market Share Slips, Unveils New Mobile Security Offering
Symantec (NASDAQ:SYMC) market share for enterprise storage software has declined again this quarter. It now has 15.3% market share, but still comes second in the storage software market. IBM (NYSE:IBM) increased its market share to 14% to come third while EMC (NYSE:EMC) still has the lead with 24.5% market share.
Any further decline could seriously impact Symantec’s stock price, as storage software accounts for nearly 37% of Symantec’s Trefis price estimate.
Check out our complete analysis of Symantec.
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Symantec also launched a new enterprise mobile security offering – the Mobile Security Assessment Suite – which offers tools and services to assess security risks associated with both mobile devices and mobile apps. It can be used by customers to refine their security strategies related to mobile device management, data loss prevention, encryption, authentication and mobile anti-virus software. It currently has 30% market share in enterprise security software, which is expected to increase throughout the forecast period.
We have a $22 Trefis price estimate for Symantec, which stands nearly 35% above its current market price.
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