Information security Enterprise in India has been
grown more than 12% to $1.86 billion in 2019, report forecasted by technology
research firm Gartner. The firm Gartner reported that security services will encourage maximum spending from chief information
security officers (CISOs), and security
leaders in 2019 as local organizations will emphasize on the need for threat
detection, compliance and security hygiene. Security services in 2019, will represent
51.5% of the total enterprise information security spending in the country. On
increasing the awareness on benefits of risk assessment and the acknowledgement
that security is one of the enablers of digital transformation India is
boosting enterprise security spending. The rise in the advancement of cyberattacks,
ransomware and malware attacks has
put cybersecurity as a top investment priority for Indian CISOs, resulting the increase
in spending on security locally. The growth of enterprise spending on
information security in India will continue to grow nonstop, to reach over $2
billion in 2020. The cloud security and integrated risk management are the fastest
growing segments this year, said research firm. Cloud security is expected to enterprise
spending of total $4 million in 2019, a growth of 300% over 2018, while
integrated risk management solutions saw a 23.1% increase year over year. Online
payments after demonetization in 2016 led
to an increase in investments toward IT infrastructure security. The change towards
digital business is also forcing CISOs to increase their spending on managing
risks arising from cyberattacks and non-compliance.
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