Gartner: Security, Risk Management Spending in India to Grow 13% in 2024

In a rapidly evolving digital landscape, the security and risk management sector in India is poised for significant growth. According to a recent report from Gartner, Inc., end-user spending on security and risk management in India is projected to reach $3 billion in 2024, marking a substantial 13.6% increase from the previous year’s figure of $2.7 billion.

This surge in investment is primarily driven by the ever-expanding digital transformation, widespread cloud adoption, and the shift towards remote and hybrid work models.
Indian organisations are facing heightened security exposure as they embrace digital transformation and migrate to cloud-based infrastructure.

These trends have catalysed the need for robust security measures. The growing complexity of cybersecurity threats necessitates a proactive approach, and this has been a significant catalyst for increased spending in the sector.

Shailendra Upadhyay, Senior Principal Research Analyst at Gartner, comments on this trend, stating, “In 2024, Indian Chief Information Security Officers (CISOs) will prioritise their spending on security and risk management to comply with strict government measures for security breach reporting and digital data protection. Subsequently, local organisations will need to implement more sophisticated security solutions, such as identity access management and cloud security.”

Previous articleDomino’s and the National Fire Protection Association partner to deliver fire safety messages
Next articlePrivate CCTV cameras linked to Lucknow police control room