International Data Corporation (IDC) has revealed that 74% of large enterprises in India embed IT security in the planning, initiation and assessments of all new business initiatives.
The security market in India, including hardware, software and services, is projected to be valued at US$2.51 billion in 2022, with the highest market share coming from services, followed by software and hardware, respectively, according to IDC’s Worldwide Security Spending Guide July 2022.
India’s overall security market is expected to reach US$4.16 billion by 2026, growing at a CAGR of 13.8% during 2021-26.
According to IDC’s report, Security Priorities, Challenges and Investment Areas for Enterprises in India, most of the interviewed enterprises stated that post-pandemic they intend to invest across all security areas, especially with the increasing demand for hybrid-working models.
Sakshi Grover, Research Manager, Future of Trust and Future of Work, IDC India, said: “Data and network security are two driving factors when dealing with digital assets, inventories and transactional traffic flows.
“Investing in cyber-resilience and threat intelligence solutions along with incidental and log management products, will help organisations gain objective insights into their security architecture and data breaches when they occur, and also prepare them to effectively mitigate the situation with minimal downtime.”
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