Indian security market to grow 10.6% in 2016, to grow more than 6X by 2020

Several organizations in India are now realizing that a purely technology centric approach to their security strategy will not suffice

Enterprise security spending in India is on pace to reach USD1.12 billion in 2016, up 10.6% from USD 1.01 billion in 2015, according to Gartner.

 

Security spending revenue will reach USD 1.24 billion by 2017, predicts Gartner. Security services (includes consulting, implementation, support and managed security services) revenue accounted for 61% of this total revenue in 2015, and this proportion will increase to 66% by 2020.

 

Several mid-market and enterprise organizations have been creating new space for security spending as part of their technology budget. Mature organizations that have begun the journey towards detection and response approaches are now looking to focus on advanced capabilities around security operations and incident response.

 

Several organizations in India are now realizing that a purely technology centric approach to their security strategy will not suffice.As a result many organizations are beginning to pay equal emphasis on the people and process elements. In the context of digital business, the people and process elements of security and risk management are becoming extremely important.

 

Key security initiatives for a majority of organizations in 2016 include:

  • Security operations
  • Incident response network and data center security
  • Identity governance and administration
  • Mobile and cloud security governance
  • Advanced threat defense, application security
  • Security policy and program development and governance
  • Risk and compliance (GRC)

 

Risk and security leaders must understand the risks associated with business unit innovation and balance the imperative to protect the enterprise with the need to adopt innovative technology approaches.


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