ThinkStock PhotosMumbai: Gartner forecasts that Indian enterprises will increase spend on security and risk management of their end users by 9.5% to $2.08 billion in 2021.
Prateek Bhajanka, senior principal research analyst at Gartner said while security leaders had to cut down on their security spending in 2020 because of IT budget cuts, in 2021 the trend is reversing.
CISOs and security leaders across Indian organisations are becoming aware of the risks and vulnerabilities that their organizations can be exposed to while migrating to cloud from legacy systems. To manage these risks, organizations are increasing their spending on cloud security tools, and will likely drive the market growth up to 251.1% in 2021, according to Gartner.
"A secure digital environment is now foundational to organizations’ growth and in preparation to another crisis that may arise. Security leaders are ready to reinvest in cybersecurity with a renewed and refreshed rigour,” said Bhajanka.
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, the firm said.
Indian CISOs and security leaders will also focus on deploying threat detection and response programs and capabilities, such as endpoint detection and response (EDR). Companies will also move to cloud-based security capabilities such that they have consistent security coverage when working from office, home or off-site.
Ransomware attacks are increasingly becoming a board level matter for Indian organisations according to the firm. Boards of up to 40% of board of directors of companies across the world will have dedicated cyber security committees overseen by a qualified board member by 2025, from the current 10%, Gartner said.
Prateek Bhajanka, senior principal research analyst at Gartner said while security leaders had to cut down on their security spending in 2020 because of IT budget cuts, in 2021 the trend is reversing.
"The global average of end user spending is expected to grow at 10.5% in 2021. But at the same time India's spending is growing at a faster pace than the mature Asia Pacific countries in the region. Mature countries are expected to increase their security spending by 8.6%," he said.
CISOs and security leaders across Indian organisations are becoming aware of the risks and vulnerabilities that their organizations can be exposed to while migrating to cloud from legacy systems. To manage these risks, organizations are increasing their spending on cloud security tools, and will likely drive the market growth up to 251.1% in 2021, according to Gartner.
"A secure digital environment is now foundational to organizations’ growth and in preparation to another crisis that may arise. Security leaders are ready to reinvest in cybersecurity with a renewed and refreshed rigour,” said Bhajanka.
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, the firm said.
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Indian CISOs and security leaders will also focus on deploying threat detection and response programs and capabilities, such as endpoint detection and response (EDR). Companies will also move to cloud-based security capabilities such that they have consistent security coverage when working from office, home or off-site.
Ransomware attacks are increasingly becoming a board level matter for Indian organisations according to the firm. Boards of up to 40% of board of directors of companies across the world will have dedicated cyber security committees overseen by a qualified board member by 2025, from the current 10%, Gartner said.
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