Spending on security in India to grow 8.3% to $2.6 bn: Gartner

End-user spending on security and risk management in India is forecast to increase at 8.3 percent to $2.65 billion in 2023, according to a Gartner report.
Deepti Gopal Gartner IndiaGartner analysts are discussing how to safeguard organizations, defend against attackers, and deliver business and citizen value at the Gartner Security & Risk Management Summit in Mumbai on 13-14 February, 2023.

Security is tied to all parts of an organization which means closer alignment between CIOs and security and risk management (SRM) leaders, Deepti Gopal, Director Analyst at Gartner, said.

Gartner surveys show that the role of the CIO is developing into three technology leadership archetypes: the Digital CIO; the Digital Business leader and the Business Technology Officer.

“The more the CIO focuses on more than just their IT remit and takes a more business-focused lens, the more the CISO should focus their efforts on building trust with the business and show how security is directly enabling the creation of value for the business.”
India cyber security spending for 2023
Spending will reach $63.9 million (+15.1 percent) on application security, $95.9 million (+25.8 percent) on Cloud security, $115.1 million (+2.6 percent) on Consumer security software, $18.7 million (+10.6 percent) on data privacy, $47.4 million (+7.9 percent) on data security, $273.6 million (+7.9 percent) on identity access management, $384.4 million (+15.2 percent) on infrastructure protection, $204.5 million (+24.8 percent) on integrated risk management, $373.1 million (+9.3 percent) on network equipment security and $1.049 billion (+2.2 percent) on securitys services in 2023.

Security services will achieve the highest levels of end-user spending in India in 2023. Security services spending is expected to represent 40 percent of end-user spending on security and risk management products and services in 2023.

In 2023, spending on infrastructure protection will surpass spending on network security equipment because of an increase in the remote workforce and in cloud applications adoption. Both are shifting focus from network security to endpoint security, which is a sub-segment of the infrastructure protection segment, forecast to grow 13.5 percent in 2023.

In addition, cloud security end-user spending in India is forecast to experience the highest growth rate among all the other segments in 2023. The segment is projected to grow 25.8 percent in 2023 as Indian organizations increasingly switch to cloud workloads and applications.

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