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Business News/ Industry / Infotech/  Digital strategy to make firms spend more on security: Gartner
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Digital strategy to make firms spend more on security: Gartner

Spending on security hardware, software and services is likely to touch $1.11 billion this year, up 8.3% from $1.02 billion in 2014

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New Delhi: As businesses in India increasingly adopt digital strategies, they are expected to raise their spending on security, according to a new report by research firm Gartner. Inc.

Spending on security hardware, software and services is likely to touch $1.11 billion this year, up 8.3% from $1.02 billion in 2014. And it will continue to grow in 2016 when revenue is projected to reach $1.23 billion, the report said.

Revenue from security services—includes consulting, implementation, support and managed security services—accounted for 57% of this total revenue in 2014, and this proportion will increase to 60 % by 2019, said Sid Deshpande, principal research analyst at Gartner.

The firm surveyed 2,810 chief information officers (CIOs) of which 89% believe that digital is bringing new types and levels of risks.

While mature organizations in India have begun to focus on risk-based approaches to security spending, smaller and mid-sized companies continue to ramp up their efforts to incrementally improve their security posture, the survey noted.

The strong growth in the security services market will be primarily because customers need external services to transform their security posture in the digital business era, according to Deshpande.

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Published: 01 Sep 2015, 11:40 PM IST
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