India's security spending to rise by 8.3pc in 2015

BANGALORE, INDIA: Security spending in India is on pace to reach $1.11 billion in 2015, up 8.3 pc from $1.02 billion in 2014, according to Gartner, Inc.

“Security spending will continue to grow in 2016 when revenue is projected to reach $1.23 billion. Security services (that includes consulting, implementation, support and managed security services) revenue accounted for 57 percent of this total revenue in 2014, and this proportion will increase to 60 percent by 2019,” said Sid Deshpande, principal research analyst at Gartner.

Key security initiatives for a majority of organizations in 2015 include: security monitoring, 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' ability to steer their organizations through the intersection of digital business and increasing IT risk and cybersecurity threats will create resilience, differentiate their organizations, define their legacies and shape the ways that future enterprises apply technology,” said Deshpande.

“In the context of the Digital India initiative, the importance of digital risk management cannot be understated. In the era of digital business, security and risk management has to be front and center as a business imperative – this applies to the private sector (banking, insurance, telecom providers, retail, manufacturing), as well as government/public sector (smart cities, citizen services, state owned enterprises)."