Gartner Forecasts Enterprise Information Security Spending in India to Grow 12% in 2019

by | Aug 26, 2019

Security, Cybersecurity trends

Enterprise information security spending in India is on pace to total US$1.86 billion in 2019, an increase of 12.4% from 2018, according to the latest forecast from Gartner, Inc.

“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. In addition, the rise in advanced cyberattacks, ransomware and malware attacks has put cybersecurity as a top investment priority for Indian CISOs, therefore increasing spending on security locally.”

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, which is taking place here through Tuesday.

“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 (see Table 1.)

Table 1

Enterprise Information Security Spending by Segment, India, 2017-2020 (Millions of U.S. Dollars)

Market Segment 2017 2018 2019 2020
Application Security 66 72 79 88
Cloud Security 0 1 4 10
Data Security 69 77 91 112
Identity Access Management 152 163 178 197
Infrastructure Protection 171 185 207 233
Integrated Risk Management 56 65 80 104
Network Security Equipment 186 209 240 267
Other Information Security Software 23 24 26 28
Security Services 809 867 963 1,069
Total 1,532 1,662 1,868 2,108

Due to rounding, figures may not add up precisely to the totals shown.

Source: Gartner (August 2019)

Cloud Security and Integrated Risk Management Are Fastest Growing Segments in 2019

Enterprise spending on cloud security is expected to total $US4 million in 2019, an increase of 300% from 2018. “The Personal Data Protection bill which is likely to be accepted by the Indian parliament in 2019 and the Indian government’s initiatives like ‘Digital India’ and ‘Smart City’ are increasing net-new adopters of cloud. In addition, Indian organizations are increasingly using cloud-specific security tools such as cloud access security broker (CASB) solutions for threat prevention, data loss prevention and compliance requirements, which is fueling the tripe-digit growth of cloud security in India,” said Rustam Malik, principal research analyst at Gartner.

In 2019, integrated risk management solutions will be the second fastest growing segment, achieving a 23.1% increase year over year. “Online payments rose since demonetization in 2016 and led to an increase in investments toward IT infrastructure security,” said Mr. Bhajanka. “The move to digital business is also forcing CISOs to increase their spending on managing risks arising from cyberattacks and non-compliance.”

Incidents of privacy breaches have put an increasing pressure on the role of CISOs in India to secure data, address privacy concerns and create secured IT infrastructure for online transactions. Local regulatory bodies have mandated Indian organizations to store critical data in local data centres to ensure better monitoring of data, confidentiality and data security. In addition, Indian CISOs are also concerned about compliance issues that will arise with the implementation of General Data Protection Regulation (GDPR).

In 2020, cloud security, integrated risk management and data security will continue to be the highest growing segments among local businesses. “CISOs need to focus on developing a data security governance framework which will help mitigate the risks caused by security threats, data residency and privacy issues,” said Mr. Malik. “Investment in password-less authentication technologies should be one of the focus areas as we are seeing a spike in attacks arising from exploitation of user credentials.”

Gartner clients can read more in the report “Forecast: Information Security and Risk Management, Worldwide, 2017-2023, 2Q19 Update.”  

Related Story: Gartner Forecasts Enterprise Information Security Spending in India to Total US$1.9 Billlion in 2019

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Brian Pereira
Brian Pereira
Brian Pereira is an Indian journalist and editor based in Mumbai. He founded Digital Creed in 2015. A technology buff, former computer instructor, and software developer, Brian has 29 years of journalism experience (since 1994). Brian is the former Editor of CHIP India, InformationWeek India and CISO Mag. He has served India's leading newspaper groups: The Times of India and The Indian Express. Presently, he serves the Information Security Media Group, as Sr. Director, Editorial. You'll find his most current work on CIO Inc. During his career he wrote (and continues to write) 5000+ technology articles. He conducted more than 450 industry interviews. Brian writes on aviation, drones, cybersecurity, tech startups, cloud, data center, AI/ML/Gen AI, IoT, Blockchain etc. He achieved certifications from the EC-Council (Certified Secure Computer User) and from IBM (Basics of Cloud Computing). Apart from those, he has successfully completed many courses on Content Marketing and Business Writing. He recently achieved a Certificate in Cybersecurity (CC) from the international certification body ISC2. Follow Brian on Twitter (@creed_digital) and LinkedIn. Email Brian at: [email protected]
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