Security and Risk Management Spending

The increase in adoption of digitalization, cloud applications and the rise in remote workers exposes Indian organizations to greater security risks. In addition, growing concerns on the rising number of ransomware attacks coupled with stringent government measures on digital data protection and security breach reporting are pressing chief information security officers (CISOs) to increase their security and risk management spending for 2023.


End-user spending on security and risk management in India is forecast to total $2.65 billion in 2023, an increase of 8.3% from 2022, as per Gartner. Security Services to remain a Key Spending Priority for Indian CISOs in 2023.


Like 2022, security services will remain the segment that will achieve the highest levels of end-user spending in India in 2023. Security services spending is expected to represent 40% of overall end-user spending on security and risk management products and services in 2023.

Secondly, many organizations in India lack in-house security capabilities, and as result, they engage security consulting and IT outsourcing companies to meet their requirements.

In 2023, spending on infrastructure protection will surpass spending on network security equipment because of an increase in the remote workforce and in cloud applications adoption. Both are shifting focus from network security to endpoint security, which is a sub-segment of the infrastructure protection segment, forecast to grow 13.5% in 2023.

In addition, cloud security end-user spending in India is forecast to experience the highest growth rate among all the other segments in 2023. The segment is projected to grow 25.8% in 2023 as Indian organizations increasingly switch to cloud workloads and applications.

Going forward, as organizations in India continue to do business online and are exposed to more attacks on their internet-connected applications, CISOs must focus their spending on a

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