target audience: TECH SUPPLIER Publication date: Jun 2024 - Document type: Market Forecast - Doc Document number: # AP51518424
India Security Spending Forecast Update, 2023–2027
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Abstract
This IDC forecast details the 2023–2027 market size and growth rate for the India security market. "India has always been a high-growth market, with hardware spending historically on the rise. However, since the pandemic, this growth has slowed as most investments have become one-off. Conversely, services spending has been growing exponentially, particularly in managed services. The growth rate in software spending is soaring, signaling a game-changing development. Substantial investments in AI-based solutions are being made, and organizations are having a proactive approach toward enhancing their security measures and posture," says Sakshi Grover, senior research manager, IDC Asia/Pacific.