India Cybersecurity Market Introduction and Overview
According to SPER Market Research, the India Cybersecurity Market is estimated to reach USD 21.58 billion by 2033 with a CAGR of 18.62%.
The report includes an in-depth analysis of the India Cybersecurity Market, including market size and trends, product mix, distribution channels, and supplier analysis. Cybersecurity is the process of defending digital assets, such as computers, networks, and data, against cyberattacks by utilizing a variety of technologies, procedures, and practices. It includes business continuity, which deals with procedures to restore data and go on with operations, network security, information security, application security, and operational security. It addresses a range of malevolent behaviours, including ransomware, phishing, malware, and hacking. It serves to preserve the availability, confidentiality, and integrity of data and systems. It focuses on using intrusion detection systems, firewalls, and virtual private networks (VPNs) to secure networks. By using data loss prevention strategies, access controls, and encryption, it shields confidential information from unwanted access or disclosure.
- In March 2022, IBM India Private Limited opened its doors as a new cybersecurity centre in India. The hub provides a cyber-protection platform that includes a variety of AI technologies, such as Watson security adviser, to help analysts with threat assessment, malware tracking, threat compilation, and information mitigation. This will assist companies in managing and automating billions of security warnings, in conjunction with IBM's Advanced Threat Disposition Scoring (ATDS).
- Palo Alto Networks released a "zero trust" medical IoT (internet of things) security suite in December 2022. Every user and device is constantly being verified as part of our cybersecurity policy. The timing of the announcement couldn't have been better: at least one other hospital's servers were breached, allowing patient data to be uploaded and sold on the dark web, and the country's best hospital, the All-India Institute of Medical Sciences (AIIMS), in Delhi, is still recovering from a cyberattack.
Market Opportunities and Challenges
Opportunities: Expanding the Market for India Cybersecurity. The market in India The field of cybersecurity is developing quickly. The market for cyber security is driven by the increase in phishing and malware attacks targeting businesses, the growing use of IoT, and the BYOD movement. Positive market growth is also impacted by the rising demand for cloud-based cybersecurity solutions. During the projected time, there should be plenty of opportunity to expand into new markets due to the growing popularity of mobile device apps and platforms, the demand for robust authentication procedures, and changes in the antivirus software sector. In addition, the market is becoming more and more in demand due to the growing need for digitization and scalable IT infrastructure as well as the continuous need to address risks posed by numerous trends, including the development of MSSPs, the adoption of a cloud-first approach, and risks associated with third-party vendors.
Challenges: The lack of qualified cybersecurity experts is one of the major issues facing the Indian cybersecurity business. There is a growing need for cybersecurity professionals who can efficiently manage, monitor, and reduce cyber risks due to the swift pace of digital transformation and the ever-changing cyber threat landscape. Nonetheless, there is a clear discrepancy in the Kingdom's skilled professional pool and the demand for cybersecurity personnel. The lack of qualified cybersecurity workers makes it more difficult for enterprises to keep strong security postures and react appropriately to changing threats. In addition, India's regulatory environment is changing quickly to address cybersecurity issues. Although this is a good thing, it also poses difficulties for businesses trying to adhere to a variety of changing laws.
Market Competitive Landscape
India's cybersecurity market has a moderate level of consolidation. Palo Alto Networks (India) Private Limited, Juniper Networks India Private Limited, NortonLifeLock India Private Limited, IBM India Private Limited, Sonicwall Technology Systems India Private Limited, Crowdstrike India Private Limited, Cyberops Infosec LLP, eSec Forte Technologies, SecurityHQ, and Hicube Infosec Pvt. Ltd. are a few of the major players in the market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Component, By Deployment, By End User
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| Regions covered | South India, North India, West and Central India, East India
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| Companies Covered | Palo Alto Networks (India) Private Limited, Juniper Networks India Private Limited, NortonLifeLock India Private Limited, IBM India Private Limited, Sonicwall Technology Systems India Private Limited, Crowdstrike India Private Limited, Cyberops Infosec LLP, eSec Forte Technologies, SecurityHQ, and Hicube Infosec Pvt. Ltd.
|
COVID-19 Impact on India Cybersecurity Market
The COVID-19 pandemic had a significant impact on providers' and customers' general behaviours. The global business growth has been adversely impacted by the temporary shutdown of production facilities, job constraints, insufficient resources, security breaches, and a compromised supply chain. Around the world, a great deal of small and medium-sized enterprises experienced both temporary and permanent closures. Globally, the pandemic affected startups and small businesses. The need for internet security services and solutions was greatly impacted by this. On the other hand, during the epidemic, the need for government, industrial, and healthcare cyber security services increased dramatically. The market's leading companies concentrate on introducing a range of security measures to protect industrial processes from serious cyberattacks.
Key Target Audience:
- Service providers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to cyber security
- Market research and consulting firm
Our in-depth analysis of the India Cybersecurity Market includes the following segments:
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By Component: |
Infrastructure Security
Governance, Risk and Compliance
Professional Services
Managed Service
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By Deployment: |
Cloud-Based
On-Premises
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By End User: |
BFSI
Healthcare
Manufacturing
Government & Defence
IT and Telecommunication
Others
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Key Topics Covered in the Report:
- India Cybersecurity Market Size (FY’2024-FY’2033)
- Overview of India Cybersecurity Market
- Segmentation of India Cybersecurity Market By Component (Solutions, Services, Others)
- Segmentation of India Cybersecurity Market By Deployment (Cloud-Based, On-Promises)
- Segmentation of India Cybersecurity Market By End User (BFSI, Healthcare, Manufacturing, Government & Defence, IT & Telecommunication, Others)
- Expansion Analysis of India Cybersecurity Market
- Problems and Obstacles in India Cybersecurity Market
- Competitive Landscape in the India Cybersecurity Market
- Impact of COVID-19 and Demonetization on India Cybersecurity Market
- Details on Current Investment in India Cybersecurity Market
- Competitive Analysis of India Cybersecurity Market
- Prominent Players in the India Cybersecurity Market
- SWOT Analysis of India Cybersecurity Market
- India Cybersecurity Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the India Cybersecurity Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. India Cybersecurity Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in India Cybersecurity Market
7. India Cybersecurity Market, By Component (USD Million)
7.1. India Cybersecurity Market Value Share and Forecast, By Component, 2024-2033
7.2. Solutions
7.2.1. Identity and Access Management (IAM)
7.2.2. Infrastructure Security
7.2.3. Governance, Risk and Compliance
7.2.4. Unified Vulnerability Management Service Offering
7.2.5. Data Security and Privacy Service Offering
7.2.6. Others
7.3. Services
7.3.1. Professional Services
7.3.2. Managed Service
8. India Cybersecurity Market, By Deployment (USD Million)
8.1. India Cybersecurity Market Value Share and Forecast, By Deployment, 2024-2033
8.2. Cloud-Based
8.3. On-Premises
9. India Cybersecurity Market, By End User (USD Million)
9.1. India Cybersecurity Market Value Share and Forecast, By End User, 2024-2033
9.2. BFSI
9.3. Healthcare
9.4. Manufacturing
9.5. Government & Defence
9.6. IT and Telecommunication
9.7. Others
10. India Cybersecurity Market Forecast, 2020-2033 (USD Million)
10.1. India Cybersecurity Market Size and Market Share
11. India Cybersecurity Market, By Component, 2020-2033 (USD Million)
11.1. India Cybersecurity Market Size and Market Share By Component (2020-2026)
11.2. India Cybersecurity Market Size and Market Share By Component (2027-2033)
12. India Cybersecurity Market, By Deployment, 2020-2033 (USD Million)
12.1. India Cybersecurity Market Size and Market Share By Deployment (2020-2026)
12.2. India Cybersecurity Market Size and Market Share By Deployment (2027-2033)
13. India Cybersecurity Market, By End User, 2020-2033 (USD Million)
13.1. India Cybersecurity Market Size and Market Share By End User (2020-2026)
13.2. India Cybersecurity Market Size and Market Share By End User (2027-2033)
14. India Cybersecurity Market, By Region, 2020-2033 (USD Million)
14.1. India Cybersecurity Market Size and Market Share By Region (2020-2026)
14.2. India Cybersecurity Market Size and Market Share By Region (2027-2033)
14.3. South India
14.4. North India
14.5. West and Central India
14.6. East India
15. Company Profile
15.1. Palo Alto Networks (India) Private Limited
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Juniper Networks India Private Limited
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Quick Heal Technologies Limited
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. NortonLifeLock India Private Limited
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Juniper Networks India Private Limited
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Sonicwall Technology Systems India Private Limited
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. IBM India Private Limited
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Crowdstrike India Private Limited
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. Cyberops Infosec LLP
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. eSec Forte Technologies
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. SecurityHQ.
15.11.1. Company details
15.11.2. Financial outlook
15.11.3. Product summary
15.11.4. Recent developments
15.12. Hicube Infosec Pvt. Ltd.
15.12.1. Company details
15.12.2. Financial outlook
15.12.3. Product summary
15.12.4. Recent developments
15.13. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope