April 26, 2021
1 min read

India tops in security spending

Australia and India are the next two largest countries in terms of security spending due to the presence of large number of businesses…reports Asian Lite News

Driven by increased cloud adoption and massive work-from-home migration, Australia and India will account 26 per cent of the overall security spending in the Asia-Pacific region in 2021, according to the IDC.

Australia and India are the next two largest countries in terms of security spending due to the presence of large number of businesses catering to domestic as well as international customers.

Overall, spending on security hardware, services, and software in Asia/Pacific is expected to reach $23.1 billion in 2021 — an increase of 12.6 per cent over the previous year.


IDC expects investment on security related products and services to grow at a five-year CAGR of 13.3 per cent over the forecast period (2019-24) and reach $35 billion by 2024.

“In Asia/Pacific, investments on security-related products and solutions (endpoint security, VPN, and firewalls) will experience double-digit growth in 2021 due to the increased spending by both governments and enterprises (particularly in the banking, telecom, and professional services industry),” explained Sharad Kotagi, Associate Market Analyst at IDC IT Spending Guides, Customer Insights ans Analysis.

The industries that are seeing the greatest increase in security spending this year are state/local government (18.5 per cent), transportation (13.9 per cent), and retail (13.7 per cent) — driven by increased focus on data security, e-commerce, work from home, digitalization of logistic monitoring, payments, and contracts.

Also read:Amazon to allow direct seller-customer contact



Previous Story

Amazon helps india breathe

Next Story

ICICI Bank’s Q4 profit jumps to Rs 4,403cr

Latest from Business

‘India’s Digital Hub Ascends’

The event also featured discussions on the Quad Partnership for Cable Connectivity and Resilience, reiterating commitments made during the July 1 Quad Foreign Ministers’ Meeting India’s growing role as a key digital

India’s Job Market Surges

With hiring levels on the rise, compensation is expected to increase by 12-15% in metro cities and by 18-22% in emerging cities India’s festive season this year is poised to create more

India Inc Eyes Upswing

Private equity (PE) remained comparatively stable in Q2, clocking 357 deals worth $7.4 billion — the second-highest volume since Q4 2022. However, deal values dipped on a quarter-on-quarter basis due to the

Apple Appoints Sabih Khan as New COO

Khan will take over from Jeff Williams, who is stepping down from the role this month and will retire later this year…reports Asian Lite News Apple has announced that Sabih Khan, an
Go toTop

Don't Miss

India muscling its strategic autonomy by engaging both East and West

With its determination to build an indigenous defence manufacturing base,

Canadian Study Permit Applications from Indians Fall Over 40%

The Canadian government processed almost 146,000 new study permit applications