Indian IT security market reaches $1.2 billion next year

15 September 2015 1 min. read
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Investment in security spending across Indian companies is heading towards the $1.11 billion, an 8.3% rise on the year previous when the market was worth $1.02 billion. According to Gartner, the strong growth figure is due to companies understanding that a more active approach is needed to protect themselves from risks.

A recent Gartner analysis finds that Indian companies are upping investment in information related security services, including security monitoring, identity governance and administration, mobile and cloud security governance, advanced threat defence, risk and compliance (GRC), among others. The spend is expected to hit $1.11 billion in 2015, before growing further to $1.23 billion in 2016. In particular, security service providers, which include the consultation, implementation, management and support of a security services are expected to see their share of total revenue increase from 57% in 2014 to 60% in 2019.

Size of the Indian IT security market

According to Sid Deshpande, Principal Research Analyst at Gartner, the growth in security investment by companies in India can be linked to the move into the digital business age. Many companies are finding that mitigation and preventative approaches may no longer cut it in a world of active adversaries. Companies are therefore turning to solutions that provide monitoring and response as part of their wider security arrangements such as the adequate training of staff in secure data management.

“In 2015, we are beginning to see larger, more mature organisations in India focus on risk-based approaches to security spending, while smaller and midmarket organisations continue to ramp up their efforts to incrementally improve their security posture,” explains Deshpande. “Risk and security leaders' ability to steer their organisations through the intersection of digital business and increasing IT risk and cyber security threats will create resilience, differentiate their organisations, define their legacies and shape the ways that future enterprises apply technology.”