Security Risk Assessment Industry To Witness Significant Boom In 2023

Security Risk Assessment
In the ever-evolving digital landscape, where data is prerequisite for organisations, Security Risk Assessment emerges as the vigilant guardian of digital fabric. It’s a journey into the heart of cyber-defence, an expedition of exploration, evaluation, and evolution.

Imagine a digital world where every bit and byte is a piece of treasure, and every cyberthreat is a lurking pirate, ready to plunder. Security Risk Assessment is your trusty map and compass, guiding you through uncharted waters. It’s the art of foreseeing storms before they strike and fortify your cyber-world against notorious invaders.

Importance Of Security Risk Assessment

Security risk assessment is a crucial process that helps organisations identify, evaluate, and put in place essential security measures for their applications. It’s main goal is to prevent security issues and weaknesses in applications. This assessment provides a comprehensive view of an organisation’s application portfolio from a potential attacker’s viewpoint. It assists managers in making informed choices about where to allocate resources, what tools to use, and how to implement security controls. In essence, conducting this assessment is a vital component of an organisation’s risk management process.

Security Services Spending to Represent 40% of Total Security Spending in India

According to Gartner, end-user spending on security and risk management in India is projected to reach $2.65 billion in 2023, showing an 8.3% increase compared to 2022.“The increase in adoption of digitalisation, cloud applications and the rise in remote workers exposes Indian organisations to greater security risks,” said Rustam Malik, Senior Principal Analyst at Gartner. “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.”. Gartner analysts are currently discussing strategies to protect organisations, defend against attackers, and provide value to businesses and citizens at the Gartner Security & Risk Management Summit in Mumbai.

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