Enterprise security spending (hardware, software and services) in India is on pace to reach $1.12 billion in 2016, up 10.6% from $1.01 billion in 2015, according to Gartner. Security spending will continue to grow in 2017 when revenue is projected to reach $1.24 billion. Security services (that include consulting, implementation, support and managed security services) revenue accounted for 61% of this total revenue in 2015, and this proportion will increase to 66% by 2020.
Key security initiatives for a majority of organisations in 2016 include security operations, incident response network and data centre security, identity governance and administration, mobile and cloud security governance, advanced threat defense, application security, security policy and programme development and governance, risk and compliance (GRC). Mature organisations that have begun the journey towards detection and response approaches are now looking to focus on advanced capabilities around security operations and incident response.
Several organisations in India are now realising that a purely technology centric approach to their security strategy will not suffice. As a result, many organisations are beginning to pay equal emphasis on the people and process elements. In the context of digital business, the people and process elements of security and risk management are becoming extremely important.
