India’s Information Security Spending to Grow 12%, Reach $1.5 Bn in 2017: Gartner
Hardware support services could see growth slowing due to public cloud, virtual appliances, and software as a service (SaaS)
This is the era of digital transformation. Enterprises are going in for digital transformation. To be able to compete in this era, enterprises need to be agile and flexible. On the other hand, cloud computing is gaining momentum as businesses shift from legacy to cloud systems and organizations push for digital business strategies. Businesses need better functionalities and connectivity than ever before, and that too cheaper, better and faster than others. Digital platforms are expanding exponentially. No wonder, according to Gartner, Information Security Spend on products as well as services in India would reach $1.5 billion in 2017, which is an increase of 12 per cent over the year 2016.
This is further expected to grow to $ 1.7 billion in 2018, according to the global research and analysis organization. Gartner further predicts that Information Security Spend would continue to be the fastest growing segment, particularly IT outsourcing, consulting as well as implementation services.
Nonetheless, hardware support services would see growth slowing down due to adoption of public cloud, virtual appliances, together with software as a service (SaaS): All of which make attached hardware support redundant.
“Several Indian enterprises are in their cycles of creating and maturing security programs. Companies need a range of security services in order to build as well as expand security processes and technologies. Especially, security monitoring as well as detection could be one important area for investment as organizations opt from a vast variety of architecture and delivery models which security services providers have been offering,” said Shashank Dixit, CEO, Deskera, a global leader in cloud based enterprise technology.
Such robust growth in Information Security Spend is due to widespread skill shortage as well as proliferation of new security initiatives undertaken by big organizations in India, says the global analytics firm.
“Rising awareness among CEOs and board of directors about 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.
“However, improving security maturity is not just about spending on new technologies. As witnessed in the recent spate of global security incidents, getting the basics right has never been more important. Organizations 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.”