Spending on information security to grow at 12% to $1.5 bn in 2017

Cybersecurity for CSOsSpending on information security products and services in India will grow at 12 percent to reach $1.5 billion in 2017 and $1.7 billion in 2018, according to Gartner.

Spending on security services will be the fastest growing segment, especially IT outsourcing, consulting and implementation services. Spending on hardware support services will be slowing due to the adoption of virtual appliances, public cloud and software as a service (SaaS), which reduces some of the need for attached hardware support overall.

Spending on security services in India will be growing due to the skills shortages and proliferation of new security initiatives that several large organizations in India are engaging in. Many Indian enterprises are in their first or second iteration of creating and maturing their security program, meaning that they have a need for a range of security services to build and grow their security processes and technologies.

Gartner has identified security monitoring and detection as a hot area for investment with organizations having to choose from a variety of architecture and delivery models that security services providers are offering.

“Rising awareness amongst CEOs and boards of directors about the business impact of security incidents, and an evolving regulatory landscape, have led to continued end user spending for security products and services,” said Siddharth Deshpande, principal research analyst at Gartner.

Gartner suggests that Indian enterprises can improve their security posture significantly just by addressing basic security and risk related hygiene elements like threat centric vulnerability management, centralized log management, internal network segmentation, backups and system hardening among others.

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