According to Gartner, Inc., end-user spending on security and risk management in India is forecast to total $2.6 billion in 2022, an increase of 9.4 per cent from 2021. This estimation came up during the discussion among Gartner analysts on how security leaders in India can secure the future, manage risks and build resiliency at the Gartner Security and Risk Management Summit, taking place virtually in India.
Commenting on the study, Prateek Bhajanka, senior principal research analyst, Gartner, said, “Hybrid or remote working is the new normal in 2022. Some organisations have even shifted to a virtual-first approach following the learnings from 2020. This model of working puts the spotlight on cloud, endpoint and identity security as employees become the ‘branch of one’ for an organisation.”
Gartner research shows that there is a significant shortage of skilled cybersecurity professionals. Therefore, end-user organisations in India often engage with security service providers to meet their cybersecurity objectives. As a result, spending on security services is forecast to total $1 billion in 2022, the highest among all segments.
Bhajanka further added, “Covid-19 was a pivotal moment in the way organisations approached risk or prepared for disruptions. Now, security leaders are putting risk management at the centre of their security and business strategies.”
Cybersecurity will continue to be a top priority for Indian chief information officers (CIOs) in 2022, as revealed in the 2022 Gartner CIO and Technology Executive Survey. Out of the total CIOs in India surveyed, 64 per cent said they will increase their spending on technologies related to cyber and information security in 2022, higher than the global average of 57 per cent.
To this end Bhajanka added, “Indian leaders responsible for security and risk management need to adopt an assume breach mindset because security incidents are inevitable in the current era. They should prioritise spending on building detection and response capabilities, and not just technologies. This will help them reduce time to detect and time to recover from incidents. In 2022, Indian security and risk management leaders will need to revisit their approach to network security with a focus on technologies such as zero trust network access (ZTNA) for context-based security. They need to envision the future of network security in the cloud.”
