Indian organisations are likely to increase their security spending in 2024 due to higher demand for digital platform and continuing remote work, according to Gartner.
The research and consulting firm forecast a 12.4% rise in security and risk management spending by end-users in the country to around $2.9 billion in 2024.
This is due to legacy IT modernisation using cloud technology, industry demand for digital platforms, updated regulatory environment and continuous remote/hybrid work.
“In 2024, chief information and security officers in India will prioritise their spending on SRM to improve organisational resilience and compliance,” said Shailendra Upadhyay, senior principal at Gartner. “With the introduction of stringent government measures mandating security breach reporting and digital data protection, CISOs are facing heightened responsibility in safeguarding critical assets against evolving cyber threats,” Upadhyay said.
In 2024, cloud security spending in India is projected to record the highest growth: 28%. The adoption of cloud and multi-cloud presents security challenges, causing an increased focus on cloud security by Indian organisations.
“The utilisation…
