Gartner Says India Security Market is on Pace to Grow 10.6 Percent in 2016

by | Sep 2, 2016

Security, Cybersecurity trends

Key Trends in The Security Market Being Addressed at the Gartner Security & Risk Management Summit

Mumbai, India, September 1, 2016 — Enterprise security spending (hardware, software and services) in India is on pace to reach $1.12 billion in 2016, up 10.6 percent from $1.01 billion in 2015, according to Gartner, Inc.

Gartner analysts are providing the latest trends for the security market at the inauguralGartner Security & Risk Management Summit, which is taking place here through Friday at the JW Marriott, Mumbai Sahar.

Security spending will continue to grow in 2017 when revenue is projected to reach $1.24 billion. Security services (that includes consulting, implementation, support and managed security services) revenue accounted for 61 percent of this total revenue in 2015, and this proportion will increase to 66 percent by 2020.

Siddharth Deshpande , principal research analyst at Gartner

Siddharth Deshpande , principal research analyst at Gartner

“The strong growth in the security services market will be primarily because customers need external services to transform their security posture in the digital business era. Security services are typically categorized as either implementation, consulting or security outsourcing services, and many providers are beginning to offer all three categories to address customer requirements,” Siddharth Deshpande , principal research analyst at Gartner.

“In 2016, we are seeing large enterprises increase their security budgets to enhance their security program, and several midmarket and enterprise organizations creating new space for security spending as part of their technology budget,” said Mr. Deshpande.

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).

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.

“Digital business challenges the basic principles of information risk and security management,” said Mr. Deshpande. “Digital business moves at a faster pace than traditional business, and traditional security approaches designed for maximum control will no longer work in the new era of digital innovation. 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.”

Further information about key security and risk management concepts that Indian organizations need to consider can be found in the Gartner reports:

Managing Risk and Security at the Speed of Digital Business

Use Six Principles of Resilience to Address Digital Business Risk and Security

Shift Cybersecurity Investment to Detection and Response

About the Gartner Security and Risk Management Summit 

Additional details on the security market will be discussed at the Gartner Security & Risk Management Summit taking place September 1-2 in Mumbai, India.

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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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