Network Security and Cyber Risk Management Market in India - Growth, Trends, and Forecast (2019 - 2024)

The Network Security and Cyber Risk Management Market in India can be segmented by Segment (Security Information and Event Management (SIEM), Security Web Gateway (SWG), Identity Governance and Administration (IGA), Enterprise Content-Aware Data Loss Prevention (DLP)), Solution (Encryption, Identity and Access Management (IAM), Data Loss Protection (DLP), Intrusion Detection System/Intrusion Prevention System (IDS/IPS), Others), Service (Network Security, Endpoint Security, Wireless Security, Cloud Security, Others), End-user Vertical (Aerospace and Defense, Retail, Government, Healthcare, It & Telecom, BFSI).

Market Snapshot

Network summary
Study Period:

2018-2024

Base Year:

2018

CAGR:

11%

Key Players:

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Market Overview

The network security and cyber risk management market in India is expected to register a CAGR of 11%, during the forecast period 2019 - 2024. In the past, India has been targeted through cyber-attacks primarily for political reasons and trends show that this landscape seems to only gain prominence with the availability of more sophisticated technology and more complex transactions increasing the vulnerability of systems.  

  • Government initiatives aimed towards digitizing Indian industries is expected to be the major driving factor for the market. Government schemes such as ‘Make in India’, ‘Start-Up India’ and ‘Digital India’ supplements the growth of Cyber Security market in India and is a linking pin towards Public-Private Partnership (PPP) models.
  • In India, Critical infrastructure is owned by both Public Sector and Private sector, both operating with their own norms and protocols for protecting their infrastructure from cyber-attacks. But there is no national security architecture that unifies the efforts taking place in the public sphere and in the private sphere.

Scope of the Report

Network security and cyber risk management market which was once known to be a concern only for the IT and Banking industry, has now penetrated into every vertical as a serious threat to any business or organization. Awareness and preparedness of these cyber risks have become a priority for consumers, suppliers and manufacturers. While every sector is fast embracing the ‘Internet of things’, they are forced to challenge the existence of cyber threats, risks and malwares; there is thus an increase in focus among regulator

By Segment
Security Information and Event Management (SIEM)
Security Web Gateway (SWG)
Identity Governance and Administration (IGA)
Enterprise Content-Aware Data Loss Prevention (DLP)
By Solution
Encryption
Identity and Access Management (IAM)
Data Loss Protection (DLP)
Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
Other Solutions
By Service
Network Security
Endpoint Security
Wireless Security
Cloud Security
Other Services
By End-user Vertical
Aerospace and Defense
Retail
Government
Healthcare
IT & Telecom
BFSI

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Key Market Trends

Intrusion Detection and Prevention System to Dominate the Market

  • An 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. Often this takes the form of dropping malicious packets, blocking network traffic or resetting connections. The IDPS also usually sends an alert to security administrators about the potential malicious activity.
  • The two main contributors to the successful deployment and operation of an IDS or IPS are the deployed signatures and the network traffic that flows through it.
  • According to Insider Threat 2018 report, most insider exploits are detected through IDPS. This indicates the popularity of IDPS and why majority of the vendors are offering this service. 
Detection method for insider attacks

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Growth in Mobile Phones to Significantly Drive the Market Growth

  • India has seen a tremendous growth in tech savvy population, with mobile phones being the first digital medium.
  • Since its launch in August 2016, Jio added 200+ million users, representing 18% of the mobile subscribers market in India. Jio helped establish 4G in India making it affordable for people of all financial backgrounds.
  • As 2G users decrease with every passing month, 3G and 4G will lead the mobile internet path till 5G is launched. 
  • At the same time, there has been substantial growth in IT spending in India and scaling up in the use of technologies such as Internet of Things (IoT), Cloud Computing, Artificial Intelligence (AI) and Block Chain. 
Mobile internet users india

Competitive Landscape

The market is fragmented due to rise in users who consume data in vernacular languages, growth in travel transactions or e-commerce transactions and new users from rural areas. This is causing internet users to grow thus growing need for cyber risk management. 

  • May 2019 - Instasafe partnered with ESDS to provide its powerful SDP Security for ease of hybrid cloud adoption. InstaSafe provides a secure platform to adopt cloud computing that increases the productivity of organizations with its ability to connect remote users, vendors & contractors to work securely from any device or location.
  • October 2018 - Indian cybersecurity firm Lucideus said that it has raised USD 5 million (over Rs 36 crore) in funding, led by Cisco Chairman Emeritus John Chambers. The funds were used to expand the company's further reach in India.
  • June 2018 - Telangana Government partnered with Data Security Council of India to set up a Cybersecurity - Center of Excellence in order to accelerate the state's cybersecurity momentum and position it as one of the leading Indian cybersecurity hubs in next 5 years. 

Major Players

  1. InstaSafe
  2. Lucideus
  3. XenArmor
  4. Nevis Networks
  5. Netrika Consulting India Pvt Ltd.

* Complete list of players covered available in the table of contents below

india

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Government Initiatives Towards Digitising Industries is Driving the Market Growth

    4. 4.4 Market Restraints

      1. 4.4.1 Absence of National Security Infrastructure is Discouraging the Market Growth

    5. 4.5 Industry Value Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Segment

      1. 5.1.1 Security Information and Event Management (SIEM)

      2. 5.1.2 Security Web Gateway (SWG)

      3. 5.1.3 Identity Governance and Administration (IGA)

      4. 5.1.4 Enterprise Content-Aware Data Loss Prevention (DLP)

    2. 5.2 By Solution

      1. 5.2.1 Encryption

      2. 5.2.2 Identity and Access Management (IAM)

      3. 5.2.3 Data Loss Protection (DLP)

      4. 5.2.4 Intrusion Detection System/Intrusion Prevention System (IDS/IPS)

      5. 5.2.5 Other Solutions

    3. 5.3 By Service

      1. 5.3.1 Network Security

      2. 5.3.2 Endpoint Security

      3. 5.3.3 Wireless Security

      4. 5.3.4 Cloud Security

      5. 5.3.5 Other Services

    4. 5.4 By End-user Vertical

      1. 5.4.1 Aerospace and Defense

      2. 5.4.2 Retail

      3. 5.4.3 Government

      4. 5.4.4 Healthcare

      5. 5.4.5 IT & Telecom

      6. 5.4.6 BFSI

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Lucideus Tech

      2. 6.1.2 Instasafe

      3. 6.1.3 XenArmor

      4. 6.1.4 ArraySheild Technologies

      5. 6.1.5 Netrika Consulting India Pvt Ltd

      6. 6.1.6 Aspirantz InfoSec

      7. 6.1.7 Cyberoam

      8. 6.1.8 Data Resolve Technologies

      9. 6.1.9 Mirox Cyber Security & Technology

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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