India Cybersecurity Market Size, Top Companies, Latest Trends, Forecast 2023-2028

The India cybersecurity market is projected to exhibit a growth rate (CAGR) of 18.33% during 2023-2028.

The growing occurrence of cybersecurity breaches to steal confidential information and business data, increasing cloud computing activities, and rising utilization of smartphones to access the internet, shop online, and make cashless payments represent some of the key factors driving the market.

Request For Sample Copy of Report: https://www.imarcgroup.com/india-cybersecurity-market/requestsample

Factors Affecting the Growth of the India Cybersecurity Industry:

• Rising Cyber Threats:

The rising number of cyberattacks and data breaches are propelling the growth of the market in India. In line with this, organizations are opting for advanced cybersecurity solutions, such as intrusion detection systems, next-generation firewalls, and endpoint protection platforms, to prevent their crucial information from being misused. Furthermore, cybercriminals employ various tactics, such as ransomware, phishing, and data breaches, to exploit vulnerabilities and compromise sensitive data. As a result, there is an increase in the need for continuous security updates to mitigate the impact of potential breaches.

• Rapid Digitalization:

The rising utilization of cloud computing, the Internet of Things (IoT) devices, and mobile technologies due to rapid digitalization is propelling the growth of the market in the country. Besides this, organizations often store and transmit sensitive data online, making them attractive targets for cybercriminals. This is leading to an increasing demand for cybersecurity solutions that can safeguard digital assets, protect data of individuals, and ensure continuity of operations. Moreover, companies are investing in technologies like cloud security and IoT security to mitigate risks associated with digital transformation.

• Regulatory Compliance:

Stringent regulatory requirements and data protection laws play a vital role in the cybersecurity market in India. Compliance with these regulations is not only a legal obligation but a means to protect sensitive data and maintain the trust of people. Additionally, organizations must adhere to international regulations to avoid severe penalties, such as fines and reputational damage. Furthermore organizations are investing in cybersecurity solutions that help secure and manage data effectively. This includes implementing data encryption, access controls, and data breach notification procedures.

India Cybersecurity Market Report Segmentation:

By Component:

• Solutions
o Identity and Access Management (IAM)
o Infrastructure Security
o Governance, Risk and Compliance
o Unified Vulnerability Management Service Offering
o Data Security and Privacy Service Offering
o Others

• Services
o Professional Services
o Managed Services

On the basis of component, the market has been bifurcated into solutions (identity and access management (IAM), infrastructure security, governance, risk and compliance, unified vulnerability management service offering, data security and privacy service offering, and others) and services (professional services and managed services).

By Deployment Type:

• Cloud-based
• On-premises

Based on the deployment type, the market has been divided into cloud-based and on-premises.

By User Type:

• Large Enterprises
• Small and Medium Enterprises

On the basis of user type, the market has been classified into large enterprises and small and medium enterprises.

By Industry Vertical:

• IT and Telecom
• Retail
• BFSI
• Healthcare
• Defense/Government
• Manufacturing
• Energy
• Others

Based on the industry vertical, the market has been segregated into IT and telecom, retail, BFSI, healthcare, defense or government, manufacturing, energy, and others.

Regional Insights:

• South India
• North India
• West and Central India
• East India

Region-wise, the India cybersecurity market has been segmented into South India, North India, West and Central India, and East India.

India Cybersecurity Market Trends:

The growing need for enhanced cybersecurity measures due to the hybrid or fully remote workforce model is offering a positive market outlook in India. In line with this, organizations are investing in secure remote access solutions, virtual private networks (VPNs), and endpoint security to protect data accessed from various locations.
The rising number of online transactions on account of the thriving e-commerce industry is contributing to the growth of the market in the country. Moreover, people are increasingly preferring secure online payments to protect their data from financial loss.

Other Key Points Covered in the Report:

• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations

Contact US

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.