Itsa India

05-Jan-2018

Key Drivers for IT- Security Spending in India

According to the latest forecast from Gartner, global information security spending will grow 7% to reach USD 86.4 billion in 2017 and up to USD 93 billion in 2018.
With an increase in the number of breaches, the need for a strong and robust cyber security framework is now more than ever. Spending on Information security products and services in India is likely to touch USD 1.5 billion in 2017, an increase of 12 percent over 2016. Spending is expected to grow to USD 1.7 billion in 2018. In 2016, 10% of the overall IT budget of Ministries was allocated for security spend.

Cyber Security is one of the top priorities of the Union Budget for 2017-2018. The changing cyber threat landscape in India along with the initiatives taken by Indian businesses and government are acting as catalyst to aid the cyber security spend in India. In this era of disruptive technologies including Internet of Things (IoT), advanced virtual reality, renewable energy, autonomous self- driving vehicles, cloud technology, artificial intelligence (AI), robotics, blockchain technology, big data, etc. Some of the key technology likely to gain momentum are as follows: