Market Research Report
India Cyber Security Market Forecast 2021-2025
|Published by||Inkwood Research||Product code||969270|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|India Cyber Security Market Forecast 2021-2025|
|Published: November 9, 2020||Content info: 100 Pages||
The India cyber security market is anticipated to evolve with a CAGR of 13.90%, over the forecast period. The country's key market growth drivers include government initiatives, the surging use of the internet, and the increasing rates of cybercrimes and cyber-attacks. The base year considered for the market study is 2020, and the forecast period is from 2021 to 2025.
India's dependency on technology observes a growing trend, as the nation continues establishing itself across the information technology (IT) sector. Indians use the internet for all their needs and requirements, such as banking, shopping, studying, and storing data, owing to which, the country's cyber-attacks have relatively increased. For instance, India recorded a 68% increase in cybercrimes registered from 2010 to 2016.
On the other hand, India's critical infrastructure is owned by the private sector, with the nation's armed forces possessing their firefighting agencies. However, India lacks national security architecture, capable of uniting the agencies' efforts in order to identify and assess the nature of threats, and combat them efficiently. Additionally, the country's government officials also emphasized and highlighted the serious concerns over cybersecurity, asserting that India is highly susceptible to cyber-attacks, without the potential to cope with it. This is primarily anticipated to bolster the integration of cybersecurity solutions in organizations, while generating novel avenues for industries. Thus, such factors are associated with India's cyber security market growth.
Leading players operating in the market include, Dell Technologies Inc, AVG Technologies (Acquired by Avast), Intel Security (Intel Corporation), Cisco Systems, FireEye Inc, IBM Corporation, etc.