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 Monday, 17 September 2012 06:02
While global economic slowdown has been putting pressure on IT budgets, security is expected to remain a priority through 2016, according to Gartner. Worldwide spending on security is expected to rise to US$60 billion in 2012, up 8.4 percent from $55 billion in 2011. This trajectory is expected to continue, reaching $86 billion in 2016. The security infrastructure market consists of the software, services and network security appliances used to secure enterprise and consumer IT equipment. IT outsourcing (managed security services), secure Web gateway (appliance), and security information and event management (SIEM) are the fastest-growing security segments.
Demand for cloud-based security is also impacting a number of key security markets, and above-average growth is expected for this new delivery model. "The security infrastructure market is expected to experience positive growth over the forecast period, despite risks of further economic turbulence," says Lawrence Pingree, research director at Gartner.
"Results from the 2012 CIO survey show increased prioritization for security compared with 2011 and results from budgeting surveys underline the fact that organizations globally are prioritizing on security budgets." Overall, 45 percent of survey respondents expected a security budget increase, 50 percent expected their budget to remain the same and only 5 percent expected their budget to decrease in 2012. This pattern varied little across regions, although some countries in emerging regions demonstrated a much-higher expectation of an increase.
"Although security remains fairly resilient in tough times, the prolonged financial crises seen in the U.S. and Europe have had some impact on IT security spending globally but to a lesser extent for emerging countries, such as Brazil, China and India," says Ruggero Contu, research director at Gartner. The demand for security products and services will be driven by the persistent threat landscape and influenced by the increasingly targeted and evolving attack patterns that are growing in sophistication. Within this environment, organizations will continue to seek the expertise and help of security technology and service providers to mitigate risks and reduce security vulnerabilities.
"Our forecast reflects our expectation that the various markets within security infrastructure will be affected to different degrees. In 2012, the market contributing most to overall growth, excluding exchange rate effects, is security services, followed by security software," says Pingree. "We expect current market trends will keep security infrastructure growth at between 9 percent and 11 percent from 2011 through 2013, but we are factoring in a higher degree of caution in terms of buying behavior."
---Gartner
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