Quadintel offers a thorough analysis of the India Cybersecurity Solution Market, including assessments of business solutions, studies and advancements, applications, advantages, benefits, and breadth. This market research study on India Cybersecurity Solution Market provides a thorough analysis and improvement of the important business producers, opportunities, difficulties, and worldwide suppliers as well as a close investigation of risks and access restrictions. Additionally, it provides a competitive analysis of the most recent technological advancements, innovations, future market potential, industry share, sales, sales generation, funding analysis, and overall business environment.
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Key Companies Covered in the India Cybersecurity Solution Market Research are Quick Heal Technologies Ltd., Check Point Software Technologies India Pvt. Ltd., Cisco Systems (India) Pvt. Ltd., Fortinet Technologies India Pvt. Ltd., IBM India Pvt. Ltd., Kaspersky Lab India Pvt. Ltd., McAfee Software (India) Pvt. Ltd., Sophos Technologies Pvt. Ltd., Symantec Software India Pvt. Ltd., Trend Micro India Pvt. Ltd. and other key market players.
The cybersecurity solution market in India is forecasted to expand at a compound annual growth rate (CAGR) of 16.14% to reach a value of INR 292.16 Bn by 2024, from INR 121.85 Bn in 2018.
In India, where enterprises, IT and government sectors are transforming their traditional ways of operations, the demand for cybersecurity solutions has significantly increased. The rapid adoption of Cloud technology and the deployment of IoT devices in India have propelled the growth of the cybersecurity solution market in India.
Market insights
based on product category: the cybersecurity solution market in India is segmented into cybersecurity products and cybersecurity services. The cybersecurity products segment, which include network security, endpoint security, data security, identity and access management (IAM), and intelligence detection and response (IDR) products, is anticipated to grow rapidly and dominate during the forecast period.
The security IDR segment is expected to lead the market with the rising demand for automated incident response and early threat detection solutions. The demand for context-aware data security solutions to prevent phishing and malware attacks through online portals has picked up, fueling the growth of this product segment. Furthermore, large organizations are incorporating content filtering solutions to safeguard their network from malicious content.
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Market insights
based on end-user industry: the market is segmented into, IT/ITeS, government, telecom, healthcare, oil and gas, and other industries. BFSI is the leading end-user industry, owing to increasing fraudulent attacks in the banking sector. During the first half of FY 2020, debit and credit card transactions reached ~2.8 Bn, m-wallet transactions reached ~2.1 Bn, and UPI transactions reached ~1.5 Bn. Digital transactions of such a high amount are extremely vulnerable to cyber attacks.
The cybersecurity solution market in the IT/ITeS industry is expected to be the fastest-growing segment, expanding at a CAGR of ~19.04% during the 2019-2024 period. Global regulations such as General Data Protection Regulation (GDPR), Health Insurance Portability and Accountability Act (HIPAA), and Cyber Intelligence Sharing and Protection Act (CISPA), among others, which support the protection of personal and critical data, have pushed IT firms to incorporate cybersecurity products in their IT network.
With the increasing adoption of Cloud technology, wearable devices and connected devices, over the past few years, cyber-attacks in healthcare sector have increased considerably. Connected medical devices, which collect personal information, financial details and other crucial medical information of patients are being primarily targeted by hackers. Therefore, many incidents of security breach have been recorded in the healthcare industry, necessitating the adoption of cybersecurity solutions, which as a result, is propelling market growth.
Competitive insights:
New entrants are facing tough competition from global cybersecurity providers such as Cisco, Symantec, IBM, and Quick Heal, among others. On the demand-side scenario as well, end-users are strongly inclined toward using cybersecurity solutions offered by global companies.
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Highlight the Following Key Factors:
- Business Description: a particular description of agency operations and enterprise departments.
- Company Strategy: The analyst’s precis of the company’s commercial enterprise strategy.
- SWOT Analysis: Detailed evaluation of the company’s strengths, weaknesses, opportunities, and threats.
- Company History: The development of predominant occasions associated to the company.
- Main merchandise and services: A listing of the company’s fundamental products, services, and brands.
- Main Competitors: A listing of the company’s fundamental competitors.
- Important places and subsidiaries: The company’s major places and subsidiaries’ listing and contact information.
- Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.
Some of the Key Questions Answered in this Report:
- What will be the market size and the growth rate by the end of the forecast period?
- What are the key Player trends impacting the growth of the market?
- What are the potential growth opportunities and threats faced by the leading competitors in the market?
- What are the key outcomes of Porter’s five forces analysis and the SWOT analysis of the key players functioning in the global Market?
- This report gives all the information regarding industry Overview, analysis and revenue of this market.
- What are the market opportunities and threats faced by the vendors in the global Market?
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