Spending on information security products and services in India is forecast to reach USD 1.5 billion this year in constant currency terms, up 12 per cent over 2016, research firm Gartner said today.
This is expected to further grow to USD 1.7 billion in 2018, Gartner said in a report.
Security services will continue to be the fastest growing segment, especially IT outsourcing, consulting and implementation services, it added.
Security services are 63 per cent of the total enterprise market (rest being products) and is expected to grow to 66 per cent by 2021.
In particular, security monitoring and detection is a hot area for investment with organisations, the report said.
"Rising awareness amongst CEOs and boards of directors about the business impact of security incidents, and an evolving regulatory landscape, have led to continued end user spending for security products and services," Gartner's Principal Research Analyst Siddharth Deshpande said.
Improving security maturity is not just about spending on new technologies but also getting the basics right, he added.
"Organisations can improve their security posture significantly just by addressing basic security and risk related hygiene elements like threat centric vulnerability management, centralised log management, internal network segmentation, backups and system hardening among others," he said.
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