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”
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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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