India security market to grow at 10.6 per cent in 2016

Enterprise security spending (hardware, software and services) in India is on pace to reach $1.12 billion in 2016, up 10.6 per cent 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 (it includes consulting, implementation, support and managed security services) revenue accounted for 61 per cent of the revenue in 2015, and the ratio will jump to 66 per cent 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," said Siddharth Deshpande, principal research analyst at Gartner.

Key security initiatives for a majority of organisations in 2016 include: security operations, incident response network and data centre security, identity governance and administration, mobile and cloud security governance, advanced threat defence and application security.