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MUMBAI, India, August 26, 2019

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

Analysts to Discuss IT Security and Risk Strategy at the Gartner Security & Risk Management Summit, August 26-27, 2019 in Mumbai, India

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.”

Gartner Security & Risk Management Summit

Gartner analysts will provide additional analysis on IT security trends at the Gartner Security & Risk Management Summit 2019 taking place in Mumbai, India. Follow news and updates from the events on Twitter at #GartnerSEC.

 

About Gartner

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Our unmatched combination of expert-led, practitioner-sourced and data-driven research steers clients toward the right decisions on the issues that matter most. We are a trusted advisor and objective resource for more than 15,000 organizations in more than 100 countries — across all major functions, in every industry and enterprise size.

To learn more about how we help decision makers fuel the future of business, visit gartner.com.

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