Mumbai: Enterprise information security and risk management end-user spending in India is estimated to reach $2.08 billion in 2021. It’s a 9.5% increase compared to 2020, according to Gartner.
The expected increase in enterprise infosecurity and risk management spending in India is largely factored by remote-working and cloud shift that triggered a huge surge in security risks for organisations.
“The overnight move to remote-working in reaction to the pandemic exposed organisations’ vulnerabilities,” said Prateek Bhajanka, Senior Principal Research Analyst – Gartner.
“While security leaders had to cut-down on their security spending in 2020 because of IT budget-cuts, in 2021, this trend is reversing,” added Bhajanka.
According to Bhajanka, a secure digital environment is now foundational to organisations’ growth and in preparation to another crisis that may arise. “Security leaders are ready to reinvest in cybersecurity with a renewed and refreshed rigor,” he noted.
In 2021, organisations are expected to increase their spending across all segments of security and risk management. Continuing the trend from last year, cloud security and integrated risk management will experience the highest growth in 2021, up 251% and 27.8%, respectively (see Table 1).
Enterprise Information Security & Risk Management End-User Spending by Segment, India, 2020-2021 (Millions of U.S. Dollars)
|Segment||2020 Spending||2020 Growth (%)||2021 Spending||2021 Growth (%)|
|Identity Access Management||175||1.9||188||7.4|
|Integrated Risk Management||96||20.7||123||27.8|
|Network Security Equipment||277||5.2||302||9.1|
|Other Information Security Software||26||-0.8||27||3.8|
Shift to cloud drives triple-digit spending on cloud security
“India is at an early stage of cloud adoption and the pandemic only accelerated this shift as organizations moved to the cloud to achieve cost efficiency and business continuity,” said Bhajanka.
“In 2020, hyperscalers, such as Amazon Web Services, Microsoft Azure and Google Cloud, increased their investment in data centres in India, further catalyzing Indian organisations’ move to cloud during the pandemic,” pointed out Bhajanka.
CISOs and security leaders are aware of the risks and vulnerabilities that their organisations can be exposed to while migrating to the cloud from legacy systems. To manage these risks, organisations are increasing their spending on cloud security tools, driving the market up 251.1% in 2021.
Cloud access security brokers (CASB) and cloud workload protection platform (CWPP) will be some of the major technologies that CISOs in India will increase their spending on within the cloud security segment in 2021.
In addition, Indian CISOs and security leaders will focus on establishing and deploying threat detection and response programs and capabilities, such as endpoint detection and response (EDR) and move to cloud-delivered security capabilities to have consistent security coverage whether working from the office, home or off-site.