Board Directors Prioritise IT Skip to main content

Gartner Forecasts Security and Risk Management Spending in India to Grow 12% in 2024

  GenAI-Driven Attacks Require Changes to Application and Data Security Practices and User Monitoring End-user spending on security and risk management (SRM) in India is forecast to total $2.9 billion in 2024, an increase of 12.4% from 2023, according to a new forecast from Gartner, Inc. Indian organizations will continue to increase their security spending through 2024 due to legacy IT modernization using cloud technology, industry demand for digital platforms, updated regulatory environment, and continuous remote/hybrid work. “In 2024, chief information and security officers (CISOs) in India will prioritize their spending on SRM to improve organizational resilience and compliance,” said  Shailendra Upadhyay , Sr 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.” Gartner a...
Post a Comment

Board Directors Prioritise IT


Details
Published on Wednesday, 25 July 2012 07:25


Board directors are prioritizing customers, core competencies and competitive advantage, according to Gartner-Forbes 2012  survey. They are willing to invest in IT as a means to change the rules of competition. Also, they have IT as the highest priority for investment in 2012, tied with investments in sales.



"Board directors clearly have a top priority to invest in IT and leverage IT for competitive advantage," says Jorge Lopez, vice president at Gartner. "These forward-looking attitudes are being made although more than half of the survey respondents replied they are preparing for a market recession. It underlines the fact that investments they plan to make are essential to growth and even survival, and they are willing to throw the investment gauntlet down now, rather than later."


The priorities of the board directors are directly centered on customers, building better ways to drive the business forward through better core competencies, working on sustaining competitive advantage or innovation. Gartner says all of these are proactive efforts to acquire, retain or develop customers and markets. Eighty-six percent of respondents said they believe technology’s strategic contribution to the business will increase by 2014.



"The best strategy for the CIO is to select projects that drive the strategic priorities of the firm," says Mark Raskino, vice president, Gartner. “Although this seems obvious, in practice, it is challenging to drive consensus on what that exactly means. CIOs need to review project elements with the CEO and key board sponsors, so they can understand that the project is designed to enhance their priorities in a meaningful way."


The fastest-rising priority is pursuing greater diversity in the business portfolio, which will drive mergers and acquisitions (M&As). The  analyst firm recommends IT leaders review their plans for integrating acquired company systems. They should also prepare plans for divestitures as the investment portfolio is restructured for lower risk.

The top five priorities:

1. Attracting new customers
2. Retaining and enhancing existing customers
3. Focusing on core competencies
4. Maintaining competitive advantage
5. Fostering innovation

The top spots were dominated by issues that have a direct connection to revenue and profit. The fastest-rising priorities point to the rise of pursuing greater diversity in the business portfolio, which is usually a move to reduce the overall risk of an enterprise. As boards seeking ways to build or extend their competitive advantage increasingly look to IT as a source of that advantage. Gartner believes IT-enabled business models will be useful as advances in technology continue to gain ground, and the reputation of IT as a means to improve productivity persists.



"CIOs should continue to examine how to liberate budget allocations through improved efficiencies, so the innovation and core competency investments prioritized by the board of directors are maintained," adds Lopez. "They should also investigate how IT can change the business model for their industry in a manner that will change the rules of competition."

----Gartner

Comments

Post a Comment

Popular posts from this blog

Mobile Phones Sales Plummet

Details Published on Thursday, 16 August 2012 06:34 Worldwide sales of mobile phones reached 419 million units in the second quarter of 2012, a 2.3 percent decline from the second quarter of 2011, according to Gartner. Smartphone sales accounted for 36.7 percent of total mobile phone sales and grew 42.7 percent in the second quarter of 2012. "Demand slowed further in the second quarter of 2012," says Anshul Gupta, principal research analyst at Gartner. "The challenging economic environment and users postponing upgrades to take advantage of high-profile device launches and promotions available later in the year slowed demand across markets. Demand of feature phones continued to decline, weakening the overall mobile phone market. "High-profile smartphone launches from key manufacturers such as the anticipated Apple iPhone 5, along with Chinese manufacturers pushing 3G and preparing for major device launches in the second half of 2012, will drive the smartpho...
257 comments
Read more

$109B Cloud Services Market

Details Published on Wednesday, 19 September 2012 05:11 The public cloud services market is forecast to grow 19.6 percent in 2012 to total US$109 billion worldwide. Business process services (also known as business process as a service or BPaaS) represent the largest segment, accounting for 77 percent of the total market. Infrastructure as a service (IaaS) is the fastest-growing segment of the public cloud services market and is expected to grow 45.4 percent in 2012, according to Gartner. "The cloud services market is a high-growth sector," says Ed Anderson, research director at Gartner. "The key to taking advantage will be understanding the nuances of the opportunity and then prioritizing investments in line with the opportunities." BPaaS is the largest segment primarily because of the inclusion of cloud advertising as a subsegment. BPaaS is forecast to grow to $84.2 billion in 2012, up from $72 billion in 2011. In 2011, cloud advertising represented abou...
6 comments
Read more

India’s Mobile Market Challenges

Details Published on Tuesday, 30 April 2013 05:42 India’s mobile services market will reach Rs.1.2 trillion in 2013, up 8 percent from 2012 revenue of Rs. 1.1 trillion, according to Gartner. Mobile connections will grow to 770 million in 2013, an 11 percent increase from 712 million connections in 2012. “The mobile market in India will continue to face challenges if average revenue per unit (ARPU) does not grow significantly,” says Shalini Verma, principal research analyst at Gartner. “If the prevailing conditions do not change in the Indian telecom market, India will account for 12 percent worldwide mobile connections, but just 2 percent of worldwide mobile services revenue (in constant USD) in 2013.” Indian telecom operators are faced with two major challenges – growing their profit margin in the face of intense competition and successfully competing with over the top service providers, such as Facebook and WhatsApp. “As mobile voice services continue to get commoditized i...
2 comments
Read more