Friday December 6, 2019
Home Uncategorized Indian firms ...

Indian firms increase cyber security budgets: Report

0
//

New Delhi: To combat the increasing threats of cyber attacks, Indian companies have stepped up their budgets on cyber security solutions multiple times, according to a study released here on Tuesday.

“Cybersecurity is indispensable. Organisations in India are looking towards innovative cybersecurity solutions, and we have seen a 25 percent compound annual growth rate (CAGR) in security budgets over the past five years, which support this trend,” Sivarama Krishnan, leader-cybersecurity, PricewaterhouseCoopers (PwC) India said.

According to PwC Global State of Information Security Survey 2016, done by PwC, CIO and CSO the average number of information security incidents in India detected by respondents increased by 117 percent over the previous year, increasing from 2,895 last year to 6,284 this year.

Attacks on industrial control systems (ICSs) and consumer technologies showed a marked increase. Losses as a result of incidents also surged by 135 percent over the previous year and the average cost per incident increased by close to 8 percent.

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 percent 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.

“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,” Krishnan said.

Over 70 percent of respondents employ cloud-based security solutions, which have emerged as an effective way for organisations to efficiently combat cyber threats.

“Organisations are also deploying Big Data analytics to manage insider threats; almost 28 percent have plans to employ Big Data analytics for improving security in the next 12 months,” the report added.

(IANS)

Next Story

Lenovo Decides to Expands its Range of Smart Devices in India

With the new "always-on" display, users can control over 5,000 smart home devices from major brands, answer video calls from family, monitor the kids' room, or check who's at the door through any smart camera connected with the device - all without lifting a finger, Lenovo said

0
Lenovo
Lenovo dominated India's tablet market in 2018 too. Pixabay

Lenovo India introduced smarter technology for a more connected home experience with an expanded range of smart devices powered by Google Assistant.

These devices include the all-new 7-inch Lenovo Smart Display, Lenovo Smart Bulb and Lenovo Smart Camera.

Earlier this year, Lenovo introduced the 10-inch Smart Display.

The latest Smart Display will be available on Lenovo.com, Flipkart and across Lenovo Exclusive stores and Croma stores at Rs 8,999, the company said.

Lenovo, Carme, Smartwatch, Launch, India
Lenovo Logo as displayed on a laptop. Wikimedia Commons

“As the leader in the Indian PC and tablet market, Lenovo is uniquely positioned to lead the growth of the smart device market by introducing new age devices and IoT products,” Rahul Agarwal, CEO & MD, Lenovo India, said in a statement.

Also Read: Tech Giant Apple Plans to Release Four iPhones in 2020 with 5G Connectivity: Report

“Our strategic partnership with Google, allows us to develop user friendly technologies which can work seamlessly with your voice,” he added.

With the new “always-on” display, users can control over 5,000 smart home devices from major brands, answer video calls from family, monitor the kids’ room, or check who’s at the door through any smart camera connected with the device – all without lifting a finger, Lenovo said. (IANS)