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Sep 07, 2022, 05:45 ET
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DUBLIN, Sept. 7, 2022 /PRNewswire/ — The “India Cyber Security Market, By Security Type, By Solutions Type, By Deployment Mode, By End Use Industry, By Region, By Top 12 States, Competition, Forecast & Opportunities, FY2017-FY2027” report has been added to ResearchAndMarkets.com’s offering.
The Indian Cyber Security Market was valued at USD2200.23 million in the year FY2021. The market growth is anticipated to continue during the forecast period, FY2023-FY2027, with a CAGR of 8.05% to achieve a market value of USD3543.37 million by FY2027.
Surging demands for the security protocols and processes due to increasing data theft is actively driving the growth of the Indian Cyber Security Market in the upcoming five years.
Complaints about the data breach from cyber companies and hacking attempts, cyber phishing, foreign espionage, etc., are majorly driving the market growth. Increased usage of cloud-based services and storage & sharing of data online are also increasing the demand for cyber security and thus supporting the growth of the Indian Cyber Security Market in the next five years.
Evolving trend of bringing your own devices (BYOD) to work and thus surging demand to protect the data from the companies and increasing requirement to monitor the sharing of valuable company integral data through BYOD devices are further substantiating the growth of the Indian Cyber Security Market in the forecast years through FY2027.
From communication services through social media, online based financial exchanges, banking services, e-commerce & delivery services online platforms, are utilizing the advancement of the technology. Internet of Things (IoT), along with the artificial intelligence (AI) working on online and local area networks, are also aiding the growth of the Indian Cyber Security Market in the future five years.
Moreover, increasing big data analytics and processing to account for a potential cyber attack in the future following the previously encountered attacks are also substantiating the growth of the Indian Cyber Security Market in the forecast period.
The Indian Cyber Security Market is segmented by security type, solution type, deployment mode, end-use industry, competitional landscape, regional distribution, and top 12 state analysis. Based on security type, the market is further segmented into network security, endpoint security, application security, cloud security, content security, and others.
Network security is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years because of increasing trends of bringing your own devices to work. Data theft from such instances requires network security.
Also, increasing instances of unauthorized data sharing that often holds information regarding financial strategies and future plans of the companies has also enticed major companies to invest actively toward network security and thereby aiding the growth of the Indian Cyber Security Market in the future five years.
Objective of the Study:
Company Profiles: Detailed analysis of the major companies present in the Indian Cyber Security Market.
Years considered for this report:
India Cyber Security Market, By Security Type:
India Cyber Security Market, By Solution Type:
India Cyber Security Market, By Deployment mode:
India Cyber Security Market, By End-User Industry:
India Cyber Security Market, By Region:
India Cyber Security Market, By Top 12 States
For more information about this report visit https://www.researchandmarkets.com/r/hobknf
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets
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