Japan, Japan, Wed, 13 Apr 2022 07:55:56 / Comserve Inc. / – India Network Security and Cyber Risk Management market with major country data, industry analysis, size , Share, Revenue, Important Players, Developing Technologies, Trends and Forecasts
The network security and cyber risk management market in India is expected to register a CAGR of 11% during the forecast period. In the past, India has been targeted by cyberattacks mainly for political reasons and trends show that this landscape only seems to be gaining prominence with the availability of more sophisticated technologies and more complex transactions increasing the vulnerability of systems.
– Government initiatives to digitize Indian industries are expected to be the major market driver. Government programs such as ‘Make in India’, ‘Start-Up India’ and ‘Digital India’ complement India’s cybersecurity market growth and provide a link to public-private partnership (PPP) models.
– In India, critical infrastructure is owned by both the public and private sectors, both operating with their own standards and protocols to protect their infrastructure from cyber attacks. But there is no national security architecture that unifies efforts in the public and private spheres.
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The network security and cyber risk management market, which was once known to be confined to the IT and banking industry, has now penetrated all verticals as a serious threat to any business or organization. Awareness and preparation for these cyber risks has become a priority for consumers, suppliers and manufacturers. As all industries rapidly embrace the “Internet of Things,” they are forced to challenge the existence of cyber threats, risks, and malware; there is therefore an increase in the attention of regulators
Main market trends
Intrusion detection and prevention system to dominate the market
– Intrusion detection and prevention software (IDPS) monitors network traffic for signs of a possible attack. When it detects potentially dangerous activity, it takes action to stop the attack. This often takes the form of dropping malicious packets, blocking network traffic, or resetting connections. The IDPS also typically sends an alert to security administrators regarding potential malicious activity.
– The two main contributors to the successful deployment and operation of an IDS or IPS are the signatures deployed and the network traffic passing through them.
– According to the 2018 Insider Threat report, most insider exploits are detected through IDPS. This indicates the popularity of IDPS and why the majority of providers offer this service.
Growth of Mobile Phones to Drive Market Growth Significantly
– India has seen phenomenal growth in the tech-savvy population with mobile phones being the number one digital medium.
– Since its launch in August 2016, Jio has added over 200 million users, accounting for 18% of the mobile subscriber market in India. Jio helped establish 4G in India, making it affordable for people from all financial backgrounds.
– While 2G users are decreasing every month, 3G and 4G will pave the way for mobile internet until 5G is launched.
– At the same time, there has been a substantial growth in IT spending in India and an intensification in the use of technologies such as the Internet of Things (IoT), cloud computing, artificial intelligence (AI) and the blockchain.
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The market is fragmented due to the increase in the number of users consuming data in vernacular languages, growth in travel transactions or e-commerce transactions, and new users in rural areas. This leads to a growth in Internet users, hence a growing need for cyber risk management.
– May 2019 – Instasafe has partnered with ESDS to provide its powerful SDP security to facilitate hybrid cloud adoption. InstaSafe provides a secure platform for adopting cloud computing that increases the productivity of organizations through its ability to connect remote users, suppliers and contractors to work securely from any device or location.
– October 2018 – Indian cybersecurity firm Lucideus said it raised $5 million (over Rs 36 crore) in funding, led by Cisco Chairman Emeritus John Chambers. The funds were used to expand the company’s reach in India.
– June 2018 – Government of Telangana has partnered with the Data Security Council of India to establish a Cybersecurity Center of Excellence to accelerate the state’s cybersecurity momentum and position it as one of the leading centers Indian cybersecurity companies over the next 5 years.
1.1 Study deliverables
1.2 Assumptions of the study
1.3 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Government Initiatives to Digitize Industries Drive Market Growth
4.4 Market Constraints
4.4.1 Absence of National Security Infrastructure Discourages Market Growth
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness – Porter’s Five Forces Analysis
4.6.1 Threat of new entrants
4.6.2 Bargaining power of buyers/consumers
4.6.3 Bargaining power of suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
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