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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...
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IT Spending to reach $3.6 Trillion

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Published on Monday, 09 July 2012 10:33
 

Worldwide IT spending is on pace to reach US$3.6 trillion in 2012, a 3 percent increase from 2011 spending of $3.5 trillion, according to Gartner. “While the challenges facing global economic growth persist — the eurozone crisis, weaker U.S. recovery, a slowdown in China — the outlook has at least stabilized," says Richard Gordon, research vice president at Gartner. "There has been little change in either business confidence or consumer sentiment in the past quarter, so the short-term outlook is for continued caution in IT spending."


However, there are some bright spots for IT providers. In contrast to the rather lackluster growth outlook for overall IT spending, the analyst firm expects enterprise spending on public cloud services to grow from $91 billion worldwide in 2011 to $109 billion in 2012. By 2016, enterprise public cloud services spending will reach $207 billion.

"Business process as a service (BPaaS) still accounts for the vast majority of cloud spending by enterprises, but other areas such as platform as a service (PaaS), software as a service (SaaS) and infrastructure as a service (IaaS) are growing faster," says Gordon.

Worldwide IT services spending is forecast to reach $864 billion in 2012, a 2.3 percent increase from 2011. Demand for consulting services is expected to remain high due to the complexity of environments for global business and technology leaders. Consulting itself is becoming increasingly technology-based with the rise of analytics and big data, having deep implications on the future of consulting services.

Worldwide IT Spending Forecast (Billions of U.S. Dollars)

 

2011
Spending
2011
Growth (%)
2012
Spending
2012
Growth (%)
2013
Spending
2013
Growth (%)
Computing Hardware
404
7.4
420
3.4
448
6.6
Enterprise Software
269
9.8
281
4.3
301
6.9
IT Services
845
7.7
864
2.3
905
4.8
Telecom Equipment
340
17.5
377
10.8
408
8.3
Telecom Services
1,663
6.0
1,686
1.4
1,725
2.3
All IT
3,523
7.9
3,628
3.0
3,786
4.4


Source: Gartner (July 2012)

The global telecom services market continues to be the largest IT spending market. Telecom services growth is expected to come not only from net connections, especially in emerging markets, but also in mature markets from the uptake of multiple connected devices, such as media tablets, gaming and other consumer electronics devices.

----Gartner

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