Investment in security solutions is set to skyrocket across India

29 August 2019 2 min. read
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Ahead of the Gartner Security & Risk Management summit currently underway in Mumbai, new analysis from research and consultancy firm Gartner has revealed that enterprise information security spending in India is on the rise. The firm expects spending in the domain to reach nearly $2 billion this year. 

The increase in security spending coincides with an overall digitalisation of business operations across India. Cyber attacks have grown in frequency and magnitude in India and across the globe, leaving newly digitalised businesses vulnerable to potentially devastating incidents.

Security has become a top concern for business leaders in India, some of whom are currently discussing IT security solutions at the Gartner Security & Risk Management Summit in Mumbai. Most businesses are looking to spend in the IT security domain, and are looking to identify the best solution in this regard.

Some specific domains within IT security include application security, cloud security, data security, identity access management, infrastructure protection, integrated risk management, and network security equipment, among others. Gartner predicts that cumulative spending across all these domains is likely to amount to nearly $2 billion by the end of this year.

Gartner Security and Risk Management Summit, Mumbai

The cloud security domain is likely to draw the lions share of investment, which is consistent with the rapid expansion of the cloud market in India. Gartner predicts a value of $4 million for cloud security spending, which represents a 300% increase from the investment levels last year.

The increase in security spending is also altering the composition of the workforce among larger organisations. Gartner reports that Chief Information Security Officers are finding themselves in an increasingly central role across the business environment, with an ever expanding suite of responsibilities.

“The growth of enterprise spending on information security in India will continue to grow unabated to reach over $2 billion in 2020. The increased awareness on the benefits of risk assessment and the acknowledgement that security is one of the enablers of digital transformation are boosting enterprise security spending in India. In addition, the rise in advanced cyberattacks, ransomware and malware attacks has put cybersecurity as a top investment priority for Indian CISOs, therefore increasing spending on security locally,” explained Principal Research Analyst at Gartner Prateek Bhajanka.

“Local CISOs and security leaders are investing in advanced threat detection programs and capabilities like endpoint detection and response (EDR) and user and entity behavior analytics (UEBA) to help detect attacks and breaches in their IT infrastructure,” he added.