India Cyber Security Market To Establish Growth With 8.05% CAGR Until FY2027
India cyber security market
is expected to show robust growth due to increasing instances of data breach in
the forecast period.
According to
TechSci report on, “India Cyber Security Market - By Region,
Competition Forecast & Opportunities, FY2017 - FY2027” India cyber
security market is anticipated to achieve a market value of USD3543.37 million
by FY2027, growing with a CAGR of 8.05% during the forecast period,
FY2023-FY2027. India cyber security
market owes its growth to the factors like increasing instances of data breach,
data theft by third party, phishing, and hacking attempts that are majorly
driving the growth of the India cyber security market in the upcoming five
years. Growing dependency on digital technology further supports the growth of
the India cyber security market in the next five years. Extended social media
usage, increased mobile phone penetration, and higher instances of sharing
integral data through social media and multiple application-based services
increase the risk of data theft. Companies have enhanced their services with
end-to-end encryption still the issues of data theft, and systemic virus
penetration in the software systems to cause online finance theft are a great
concern and surge the demand for highly efficient cyber security services,
thereby aiding the growth of India cyber security market in the future five
years. Growing e-commerce industry, higher prevalence of product & services
delivery systems also create room for data breaches while sharing personal
information with third parties, thus increasing demand for cyber security. Work
from home culture, online-based working systems, freelancing work, along with
the evolving trend of bringing your own device to work, have increased the
risks of data breaches due to network sharing and substantiate the growth of
the India cyber security market in the forecast years through 2027.
Browse over 34
market data Figures spread through 107 Pages and an in-depth TOC on "India
Cyber Security Market"
https://www.techsciresearch.com/report/india-cyber-security-market/1557.html
The India cyber
security market is segmented by security type, solution type, deployment mode,
end use industry, competitional landscape, regional distribution, and top 12
state analysis. Based on solution type, the market is further segmented into
firewall, antivirus & antimalware, data loss prevention, risk &
compliance management, identity & access management, intrusion
detection/prevention system, email filtering, secure web gateways, encryption &
decryption, and others. Firewall and antivirus & antimalware solutions are
anticipated to hold the major shares of the market. Firewall solution is
expected to hold the largest revenue shares of the market and dominate the
segment in the upcoming five years on the grounds of its advantages over
unauthorized access by unknown or third party cyber-attacks. The firewall
solution creates a restriction between the internal and external network. The
user may be provided with passwords or keys to the firewall to access the
network that can only be authorized by the administrator of the internal
system, thus avoiding incoming malicious traffic from external sources via the
internet.
A partial list of
market players in the field includes:
·
Mcafee
Software (India) Private Limited
·
Palo
Alto Networks (India) Private Limited
·
Quick
Heal Technologies Limited
·
Sonicwall
Technology Systems India Private Limited
·
Fortinet
Technologies India Private Limited
·
FireEye
Technologies India Private Limited
·
Cisco
Systems (India) Private Limited
·
Secureworks
India Private Limited
·
F-Secure
Pvt Ltd
·
Kaspersky
Lab India Private Limited
·
ESET,
spol. s r.o.
·
NortonLifeLock
India Private Limited
·
Juniper
Networks India Private Limited
·
IBM
India Private Limited
·
Crowdstrike
India Private Limited
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“Southern region
of the country is anticipated to dominate the market and hold largest revenue
shares in the forecast years. The largest market in the country is mostly held
by the cities like Mumbai, Bangalore, Hyderabad, etc. Being the cyber hub of
the country, the region also encounters the highest complaints of data theft, and
an increasing number of market players are further anticipated to drive the
growth of the India cyber security market in the upcoming five years. Moreover,
higher investment in the IT industry, growing dependency of multiple businesses
over online platforms are expected to further aid the market growth. New market
players may focus on cloud security, since the usage of cloud-based services
are rapidly increasing, and that would aid their brand establishment,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Cyber Security Market By Security Type
(Network Security, Endpoint Security, Application Security, Cloud Security,
Content Security, Others), By Solutions Type (Firewall, Antivirus &
Antimalware, Data Loss Prevention, Risk & Compliance Management, Identity
& Access Management, Intrusion Detection/Prevention System, Email
Filtering, Secure Web Gateways, Encryption & Decryption, Others), By
Deployment Mode (On-Premise v/s Cloud, By End Use Industry (BFSI, IT &
Telecom, Defense, Healthcare, Energy & Power, Retail & E-Commerce, and
Others), By Region, By Top 12 States, Competition, Forecast &
Opportunities, FY2017-FY2027” has evaluated the future growth
potential of India cyber security market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India cyber security market.
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