Security spending in India to grow 8.3% to $1.1 bn in 2015

Cybersecurity issues
Security spending — hardware, software and services — in India is set to grow 8.3 percent to $1.11 billion in 2015, according to Gartner.

Gartner said security spending will grow in 2016 to reach $1.23 billion. Security services including consulting, implementation, support and managed security services revenue accounted for 57 percent of $1.11 revenue in 2014, and this proportion will increase to 60 percent by 2019.

The growth drivers for the security services market include customers need for external services to transform their security posture in the digital business era.

“In 2015, we are beginning to see larger, more mature organizations in India focus on risk-based approaches to security spending, while smaller and midmarket organizations continue to ramp up their efforts to incrementally improve their security posture,” said Sid Deshpande, principal research analyst at Gartner.

Key security initiatives for a majority of organizations in 2015 include: security monitoring, identity governance and administration, mobile and cloud security governance, advanced threat defense, application security, security policy and program development, and governance, risk and compliance (GRC).

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