New Delhi, 13 October 2015: Year after year, cyberattacks continue to escalate in frequency, severity and impact. However, prevention, detection methods, cybersecurity innovation and investments in cyber security are on the rise, as forward-leaning business leaders’ focus on solutions that reduce cybersecurity risks and improve business performance.
The Global State of Information Security® Survey 2016, released by PwC in conjunction with CIO and CSO, examines how executives are looking towards new innovations and frameworks to improve security and mitigate enterprise risk.
As cyber risks become increasingly prominent concerns in the C-suite and boardroom, business leaders are rethinking cybersecurity practices and focussing on a nexus of innovative technologies that can reduce enterprise risks and improve performance. These technologies are yielding considerable opportunities to improve cybersecurity and produce holistic, integrated safeguards against cyberattacks.
While the number of incidents has risen significantly over the previous year, organisations in the country have ramped up investments to combat the menace.
Sivarama Krishnan, Leader- Cybersecurity, PwC India said, “Cybersecurity is indispensable. Organisations in India are looking towards innovative cybersecurity solutions, and we have seen a 25% compound annual growth rate (CAGR) in security budgets over the past five years, which support this trend.”
Connected to the emergence of cloud-based systems, Big Data and Internet of Things (IoT) are ascendant technologies that present a host of cyber challenges and opportunities. In the case of Big Data, often considered a cyber liability, 49% of respondents are leveraging data-powered analytics to enhance security by shifting it away from perimeter-based defences, and enable organisations to put real-time information to use in ways that create real value.
Krishnan added, “Not only are leaders adopting innovative solutions, but even fundamental security technologies and practices have seen wider acceptance, and organisations have evolved to master the basics. This has improved security postures of organisations throughout the country.
Some of the key findings of the survey are:
Notes to the Editors:
The Indian update of the Global State of Information Security® Survey 2016, which is a worldwide study by PwC, CIO and CSO, was conducted online from 7 May 2015 to 12 June 2015. Readers of CIO and CSO and clients of PwC from around the globe were invited via email to participate in the survey.
The results discussed in this report are based on the responses of more than 480 CEOs, CFOs, CIOs, CISOs, CSOs, VPs and directors of IT and security practices from across 17 industry sectors in India. The margin of error is less than 1%. All figures and graphics in this report are sourced from the survey results.
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