India was hit by 1.39 million cybersecurity incidents in 2022. Over 4.5 million cases were tracked in the last five years
Even as Indian organisations — from start-ups to large corporations — are cashing in on digitisation, cloud adoption and work-from-anywhere culture, experts warn that negligence of cybersecurity and risk management may spoil the party.
A recent report from Gartner has forecast end-user spending on security and risk management in India, ranging from infrastructure protection and identity access management to application security, at $2.65 billion in 2023 — up by 8.3 per cent over the previous year. As in 2022, security services will remain the segment with the highest levels of end-user spending in India in 2023, predicts the technology research and consulting firm.
“Many organisations in India lack in-house security capabilities, and as a result, they engage security consulting and IT outsourcing companies to meet their requirements,” says Rustam Malik, senior principal analyst at Gartner. The rising number of ransomware attacks, coupled with stringent government measures on digital-data protection and security-breach reporting, is pressing…
