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

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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. 

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