IMARC Group, a leading market research company, has recently releases report titled “India Cybersecurity Market Report by Component (Solutions, Services), Deployment Type (Cloud-Based, On-Premises), User Type (Large Enterprises, Small and Medium Enterprises), Industry Vertical (IT and Telecom, Retail, BFSI, Healthcare, Defense/Government, Manufacturing, Energy, and Others), and Region 2024-2032”. The India cybersecurity market size is projected to exhibit a growth rate (CAGR) of 16.5% during 2024-2032.
The expanding digitalization of businesses as well as the growing incidence of cyber threats are the factors responsible for the growth of the India cybersecurity market. Additionally, as more companies embrace digital transformation and remote working models, the vulnerability to cyberattacks, including phishing, ransomware, and data breaches has significantly increased. This surge in cyber threats has heightened the demand for robust cybersecurity solutions to protect sensitive information and ensure business continuity. Moreover, initiatives, such as the National Cyber Security Policy, are also playing a crucial role in strengthening the cybersecurity framework, mandating stricter compliance, and promoting best practices across various sectors.
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India Cybersecurity Market Trends:
Key trends in the India cybersecurity market include the growing utilization of advanced technologies like artificial intelligence and machine learning (ML) to enhance threat detection and response capabilities. These technologies enable predictive analytics, allowing organizations to anticipate and mitigate potential security breaches proactively. In addition to this, there is a rising emphasis on cloud security solutions as businesses increasingly migrate their operations to cloud environments, which is acting as another significant growth-inducing factor.
The proliferation of Internet of Things devices is also driving the need for comprehensive cybersecurity measures to protect interconnected systems. Apart from this, the focus on employee training and awareness programs is intensifying, as human error remains a significant factor in security breaches. As the cybersecurity landscape evolves, the market is expected to expand further, driven by continuous innovation, which is anticipated to drive the India cybersecurity market over the forecasted period.
India Cybersecurity Market Segmentation:
Breakup by Component:
- Solutions
- Identity and Access Management (IAM)
- Infrastructure Security
- Governance, Risk and Compliance
- Unified Vulnerability Management Service Offering
- Data Security and Privacy Service Offering
- Others
- Services
- Professional Services
- Managed Services
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by User Type:
- Large Enterprises
- Small and Medium Enterprises
Breakup by Industry Vertical:
- IT and Telecom
- Retail
- BFSI
- Healthcare
- Defense/Government
- Manufacturing
- Energy
- Others
Breakup by Region:
- South India
- North India
- West and Central India
- East India
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Key Highlights of the Report:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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