Enterprise information security spending in India is on pace to total $1.86 billion in 2019, an increase of 12.4 percent from the previous year, research firm Gartner said on Monday.
The spending, which stood at $1.66 billion in 2018, is further estimated to rise to $2.1 billion by 2020, Gartner said in a statement.
The growth of enterprise spending on information security in India will continue to grow unabated to reach over $2 billion in 2020, said Gartner Principal Research Analyst Prateek Bhajanka.
“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,” he added.
In addition, the rise in advanced cyber attacks, ransomware and malware attacks has put cybersecurity as a top investment priority for Indian chief information security officers (CISOs), therefore increasing spending on security locally, he said.
Security services is expected to attract the most spending from CISOs and security leaders in 2019 as local organisations are emphasising on threat detection, compliance and security hygiene. In 2019, security services will represent…
