According to the latest forecast from Gartner the Enterprise information security spending in India is on pace to total US$1.86 billion in 2019, an increase of 12.4% from 2018.
“The growth of enterprise spending on information security in India will continue to grow unabated to reach over US$2 billion in 2020,” said Prateek Bhajanka, principal research analyst at Gartner.
“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.
He further says that Indian CISOs has increased spending on security as a top investment priority due to rise in advanced cyberattacks, ransomware and malware attacks.
Gartner analysts are describing how security and risk management leaders (CISOs) can advance their IT security and risk strategy in front of over 600 attendees at the Gartner Security & Risk Management Summit.
“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,” said Mr. Bhajanka.
Security services will attract the most spending from CISOs and security leaders in 2019 as local organizations are emphasizing on threat detection, compliance and security hygiene. In 2019, security services will represent 51.5% of the total enterprise information security spending in India
(Image spending: www.cybersecurityventures.com)