India Security Market is on Pace to Grow 10.6 Percent in 2016

September 18, 2016

cl6Enterprise security spending (hardware, software and services) in India is on pace to reach $1.12 billion in 2016, up 10.6 percent from $1.01 billion in 2015, according to Gartner, Inc.

Security spending will continue to grow in 2017 when revenue is projected to reach $1.24 billion. Security services (that includes consulting, implementation, support and managed security services) revenue accounted for 61 percent of this total revenue in 2015, and this proportion will increase to 66 percent by 2020.

“The strong growth in the security services market will be primarily because customers need external services to transform their security posture in the digital business era. Security services are typically categorized as either implementation, consulting or security outsourcing services, and many providers are beginning to offer all three categories to address customer requirements,” Siddharth Deshpande , principal research analyst at Gartner.

“In 2016, we are seeing large enterprises increase their security budgets to enhance their security program, and several midmarket and enterprise organizations creating new space for security spending as part of their technology budget,” said Mr. Deshpande.

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