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...
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Published on Tuesday, 10 April 2012 06:12
Worldwide IT spending is forecast to total US$3.7 trillion in 2012, a 2.5 percent increase from 2011, according to market analyst Gartner. The lower growth rate has more to do with the U.S. currency than an actual decline in spending, according to the analyst firm. The strengthening in the value of the U.S. dollar versus other currencies has resulted in the reduced growth rate.
However, when looking at spending in constant U.S. dollars, Gartner analysts say IT spending is on pace to increase 5.2 percent in 2012, up from its previous projection of 4.6 percent. "Despite concerns about the economic recovery — most notably around the resolution of eurozone sovereign-debt problems, worries about the potential for China's real estate 'bubble' to spillover and affect the rest of the economy and rising oil prices — early signs in 2012 suggest the global economic outlook has brightened a little," says Richard Gordon, research vice president at Gartner.
IT spending in the government sector is expected to contract moderately on a global basis in 2012 and 2013, driven by austerity measures in the eurozone. While there has been much commentary about the need for government cuts since the sovereign debt crisis emerged in Europe, it is only now that the impact of government budget cutbacks is being felt on IT spending in the region. Similarly, the U.S. government spending is expected to essentially flat in 2012 before contracting in 2013.
In the small and mid size business market, which represents approximately a quarter of all enterprise IT spending, spending is forecast to reach $874 billion in 2012 and will grow to $1 trillion by 2016. Throughout the forecast period, mid sized business IT spending outperforms other sectors in each of the next five years, driven by growth in spending on enterprise software.
The worldwide telecom equipment market is forecast to show the strongest growth with spending reaching $472 billion in 2012, a 6.9 percent increase from 2011. Gartner attributes this growth to the continued health of the mobile devices market as well as a more positive outlook for enterprise network equipment. This is being driven by spending on application acceleration equipment, network security, WLAN and Ethernet switches.
------Gartner
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