India Cybersecurity Market Research Report 2017-2027

Posted January 1, 2022 by priyapraksh98

Digital transformation is encouraged as it reduces the operational and maintenance costs of institutions as the majority of the work is done automatically by collecting the data based on pre-built algorithms and input methods.

Bharat Book Bureau Provides the Trending Market Research Report on “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”under Services Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.

The India Cybersecurity Market stood at USD1950.12 million in FY2020, growing at a CAGR of 8.05%, and is anticipated to witness steady growth to reach at USD3543.37 million by FY2027. The healthy growth of the India cybersecurity market is driven by the initiatives taken by leading authorities focusing on the implementation of digitization in prominent industry verticals ranging from healthcare, automotive, manufacturing, banking, defense to the education sector. Government officials are increasing the adoption of digital platforms to boost the digital transformation process in public and private institutions to enhance transparency, lower human error, and maintain records more efficiently.

Digital transformation is encouraged as it reduces the operational and maintenance costs of institutions as the majority of the work is done automatically by collecting the data based on pre-built algorithms and input methods. Availability of large volumes of data on the digital platforms containing personal information, bank details, contact details, and other confidential information is making the system prone to getting attacked by unwanted sources, aiming to steal information and provide unauthorized access to people. Based on the data presented by the government in parliament, around 1.16 million cyber-attack cases were reported in the previous year, FY2020.

After the onset of the pandemic, COVID-19 boosted the digital industry as organizations and institutions such as the education sector shifted towards digital platforms to deliver the knowledge to the students. Work from home, bring your own device, and growing e-commerce industries contributed to updating the data on the digital platforms, which prompted hackers and attackers to attack these platforms to gain access to privileged information.

India Cybersecurity market can be segmented into security type, solution type, deployment model, end-user industry, regional distribution, and

Competitive Landscape. Based on solution type, the market is divided into network security, endpoint security, application security, cloud security, content security, others. The cloud security segment is expected to witness the fastest incremental growth growing at a CAGR of 9.77% till FY2027. The adoption of cloud security offers several advantages, including 24*7 access, protection against Distributed Denial of Service (DDoS) attacks, advanced threat detection, and the pay-as-you-go model, which ensures cost-effectiveness. Fierce competition among the market players and the availability of a skilled workforce aiming to develop advanced security measures are expected to influence market the demand positively.

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

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.

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

Our Company 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. Our Company 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 Our Company.

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.

Browse our full report with Table of Content :

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Tags india cybersecurity market , india cybersecurity market by opportunity , india cybersecurity market by security type , india cybersecurity market by solution type , services market research report
Last Updated January 1, 2022