India Cybersecurity 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

India Cybersecurity market stood at USD2200.23 million in FY2021 and is forecast to grow at a CAGR of 8.05% by FY2027. The growth in India Cybersecurity market is driven by rising menace of data breach, hacking attempts, phishing, snooping, foreign espionage, etc., also rise in demand to reduce information technology (IT) costs by using the resources of the cloud computing services. These developments are leading to higher security threats and to handle such kind of threats better infrastructure is required, leading to enhancement in the cybersecurity market. Moreover, government’s initiatives such as ‘Digital India’ and ‘Make in India’ which are focused to enhance the country in terms of technology are also taking cognisance of evolving risks and technological advancements and integrating these into mandates and guidelines, which has led to the necessity of cybersecurity.

India Cybersecurity market can be segmented into security type, solution type, deployment mode, end use industry and region. Based on security type, the market is segmented into network security, endpoint security, application security, cloud security, content security, others. The network security dominated the market in FY2021 as these solutions empower enterprises to protect the integrity of the data from external points to manage network traffic more securely and improving network reliability by preventing vulnerabilities and downtime by constantly monitoring suspicious events that could harm the systems.

Based on solution type, the market is divided into Firewall, Antivirus & Antimalware, Data Loss Prevention, Risk & Compliance Management, Identity & Access Management, Intrusion Detection/Prevention System, Email Filtering, Secure Web Gateways, Encryption & Decryption, Others. The Firewall segment dominated the market in FY2021 with a market share of 16.09%, as it provides protection from unauthorized access by the outside cyberattacks by establishing a barrier between the internal network and incoming traffic from external sources such as the Internet, to block malicious traffic.

Based on end use industry, the market is segmented into BFSI, IT & Telecom, Defense, Healthcare, Energy & Power, Retail & E-Commerce, and Others. BFSI sector dominated the market in FY2021 as there is an increased risk of data loss due to changing customer preferences to digital marketplaces, which has led major players in the India cybersecurity market to invest in developing the technologies to protect the sensitive confidential information. Moreover, the new technologies in the banking and finance sector have led to increased bank fraud and other criminal behavior which has led to the growth in the market.

Based on deployment mode, the India cybersecurity market is segmented into On-Premise and Cloud. Deployment of cloud-based services is expected to grow by FY2027 as it provides on-demand services and elasticity.

Major players operating in the India Cybersecurity market are Juniper Networks India Private Limited, International Business Machines Corporation, Mcafee Software (India) Private Limited, Cisco Systems (India) Private Limited, Nortonlifelock India Private Limited, etc. The companies operating in the market are focusing on developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions to increase their market share and to develop competencies.

Years Considered for this Report:

Historical Years: FY2017-FY2020

Base Year: FY2021

Estimated Year: FY2022

Forecast Period: FY2023-FY2027

Objective of the Study:

• To analyze the historical growth in the market size of India Cybersecurity Market from FY2017 to FY2021.
• To estimate and forecast the market size of the India Cybersecurity Market from FY2022 to FY2027 and growth rate until FY2027.
• To classify and forecast India Cybersecurity Market based on security type, solution type, by deployment mode, by end-user industry, by region and by top 12 states.
• To identify the dominant region or segment in the India Cybersecurity Market.
• To identify drivers and challenges for India Cybersecurity Market.
• To identify and analyze the profile of leading players operating in the India Cybersecurity Market.
• To identify key sustainable strategies adopted by market players in the India Cybersecurity Market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the vendors and presence of all major players across India.

TechSci Research calculated the market size of India Cybersecurity Market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these services and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Cloud computing service providers, vendors and other stakeholders
• Maintenance and deployment companies
• Organizations, forums and alliances related to Cloud Computing
• Government bodies such as regulating authorities and policy makers
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, end-users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, India Cybersecurity Market has been segmented into the following categories in addition to the industry trends which have also been listed below:

• India Cybersecurity Market, By Security Type:
• Network Security
• Application Security
• Cloud Security
• Endpoint Security
• Content Security
• Others
• India Cybersecurity Market, By Solution Type:
• Firewall
• Antivirus & Anti-Malware 
• Data Loss Prevention
• Risk & Compliance Management
• Identity & Access Management
• Intrusion Detection/Prevention System
• Email Filtering
• Secure Web Gateways
• Encryption & Decryption
• Others
• India Cybersecurity Market, By Deployment mode:
• On-premises
• Cloud
• India Cybersecurity Market, By End-User Industry:
• BFSI
• IT & Telecom
• Defence
• Healthcare
• Energy & Power
• Retail & E-Commerce
• Others

·         India Cybersecurity Market, By Region:

• South
• North
• West
• East

·         India Cybersecurity Market, By Top 12 States

• Maharashtra
• Karnataka
• Telengana
• Delhi
• UP
• Haryana
• Tamil Nadu
• Gujarat
• West Bengal
• Chhattisgarh
• Rajasthan
• Assam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India Cybersecurity Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).