Cybersecurity Market in India Continues to be Dominated by BFSI Sector
National digitization
initiative ‘Digital India’, rapid cloud adoption and emerging BYOD &
mobility trends to drive India cybersecurity market through 2023
According to TechSci Research report, “India
Cybersecurity Market By Security Type, By Solution, By End User Sector,
Competition Forecast & Opportunities, 2013 – 2023”, cybersecurity market in India is projected to
grow at a CAGR of more than 19% during 2018 - 2023. Key factors expected to
drive the market are rapidly increasing digitization
under Digital India program, emergence of SMACT technologies, surging demand
for BYOD & mobility, and growing adoption of networking trends such as
Software Defined Networking (SDN) and Network Function Virtualization (NFV). Alarming
increase in incidences of ransomware attacks, which hamper the credibility and
CAPEX/OPEX of organizations, is anticipated to have a huge positive impact on
the cybersecurity market in India over the coming years.
Browse 27 market data
Tables and 35 Figures spread through 115
Pages and an in-depth TOC on
"India Cybersecurity
Market" https://www.techsciresearch.com/report/india-cyber-security-market/1557.html
Network security segment
accounts for the largest share in the market, as it offers next-gen technology
infused with advanced security features. However, in the coming years, cloud
security is anticipated to grow at the fastest rate in India cybersecurity
market, owing to rising adoption of cloud computing services, and continuing growth
in enterprise mobility & bring your own device trend in the country. BFSI
sector is the largest demand generating sector in the country’s cybersecurity market,
as it is the biggest target of cyberthreats and attacks from hackers. Backed by rising promotion of
mobile and e-governance activities initiated by the government, in addition to
growing border management and national security concerns, adoption of
cybersecurity in the government sector is also likely to witness robust growth
during forecast period.
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“With increasing
number of organized and advanced
cyberattacks, demand for cybersecurity solutions such as those based on advanced
technologies like deception technology, artificial intelligence, etc., is
growing across diverse sectors in India. Moreover, owing to growing number of
SMART projects in the country, network and technological complexities are also
increasing, which in turn, is resulting in rising investments in R&D by
both government and private enterprises, thereby
driving innovation in cybersecurity technologies and solutions.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Cybersecurity
Market By Security Type, By Solution, By End User Sector, Competition
Forecast & Opportunities, 2013 – 2023” has analyzed the potential
of cybersecurity market across India, and provides statistics and information
on market size, shares and trends. The report will suffice in providing the
intending clients with cutting-edge market intelligence and help them in taking
sound investment decisions. Besides, the report also identifies and analyzes
emerging trends along with essential drivers and key challenges faced by the
industry.
About TechSci Research
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