Thanks to technological advancements, people, organizations and businesses in India are connected and making economic progress. However, this growth also comes with significant vulnerabilities that hackers and other cybercriminals can take advantage of.
market analysis
cyber security of india Market to grow 15.6% from $1.97 billion in 2019 to $3.05 billion in 2022 It is expected to have a CAGR (Compound Annual Growth Rate), which is close to one and a half times the global growth rate. While many factors can contribute to this growth rate, factors such as digital developments, which demand security investments, increasing attacks on cyber security systems, and regulatory norms that drive the needs of the security market, are key factors for Indian cyber security. Can significantly increase market demand.
cyber security products
Cyber security products are expected to grow at a higher rate than services as organizations look to invest more in specialized technology-driven products. The growth in India’s cyber security products market is expected to impact on endpoint security and data security. The impact on the endpoint segment is expected to increase due to the growing popularity of IoT, bring your own device (BYOD) and connected device technologies.
The network security products market is expected to grow from $257 million in 2019 to $394 million in 2022 at a CAGR of 15.3%. This is because more companies are expected to adopt digital technologies.
cyber security services
In the Indian cyber security services market, security testing and incident response services are the key services driving the demand. The security implementation services market, consulting services, and testing services market are expected to experience huge growth by 2022.
Indian gambling market
The Indian gambling market accounts for over 15% of the world’s online gambling traffic. The Indian gambling market is expected to be valued at $3.91 billion in four years. A major part of this money is for some Indian sports such as onlinecasinoguide is found in. This growth is linked to the development of digital infrastructure, higher adoption rate of smartphones, a younger population and better adoption of digital payment methods.
With gambling expected to go mobile, players are also likely to adopt online payment methods. However, online gambling is prone to cyber fraud, calling for more stringent data security measures by casinos and players.
With gambling expected to go mobile, players are also likely to adopt online payment methods. However, online gambling is prone to cyber fraud, calling for more stringent data security measures by casinos and players.
regional analysis
India’s cyber security market through information technology and information technology-enabled services (ITES), Banking and Financial Services Industry (BFSI) and as defined by the Govt.
IT and ITES Sector
Cyber security attacks highly target service organizations holding valuable customer data. The IT and ITes sector is expected to grow from $434 million in 2019 to $713 million by 2022 with a CAGR of 18%.