Keeping in mind the impact of security breaches on business and the need for a detection and response system, Indian companies are set to invest big on information security in 2017, according to data from research firm Gartner Inc.
“Spending on information security products and services in India will reach $1.5 billion in 2017 in constant currency terms, an increase of 12% over 2016, with spending expected to grow to $1.7 billion in 2018," Gartner said on Tuesday.
Security monitoring and detection is a major investment area for India companies, which are working closely with security service providers.
“Rising awareness amongst CEOs and boards of directors about the business impact of security incidents, and an evolving regulatory landscape have led to continued end user spending for security products and services," said Siddharth Deshpande, principal research analyst at Gartner.
According to the research firm, security services, especially IT outsourcing, consulting and implementation services, will continue to be the fastest growing segment. Hardware support services will see slower growth due to the adoption of virtual appliances, public cloud and software as a service (SaaS), which reduces some of the need for attached hardware support.
“Organizations can improve their security posture significantly just by addressing basic security and risk related hygiene elements like threat-centric vulnerability management, centralized log management, internal network segmentation, backups and system hardening among others," Deshpande added.