Increase in cyber attacks drives cyber security growth in India, finds Netscribes, Inc.
Netscribes, Inc. launches a report on the Cyber Security Market in India 2012 covering a market with strong growth potential. It is a part of Netscribes, Inc.ís Information Technology Industry Series.
Online PR News – 12-September-2012 – Mumbai/Maharashtra – The basic premise of making fast money or transgressing into competitive warfare to a more grave espionage has initiated the malaise called cyber attacks. Cyber attacks could target anyone be it an MNC or even an SME. In all the cases, the certainty in such exercises is that companies fall prey to such attacks and are subjected to a high degree of reputational risk in addition to financial losses incurred due to data leakage. Moreover, as technological advancements render heightened adoption of smartphones or other such devices that induce greater internet connectivity, risks associated with cyber domain loom large translating into more cyber attacks. What renders it to be more insidious is that these attacks do not follow any common pattern or motive and thereby becomes more dangerous not only in terms of information security for companies but also for national security as a whole. As more and more cyber attacks get recorded across the world, cyber security solutions are poised for further growth.
The report begins with the introduction of concept of cyber security along with a brief snapshot of the objectives as well as the efforts required to secure systems in the cyber space. It then goes on to describe a work model of cyber security in terms of the defense mechanism it follows. The report then moves towards providing a brief overview of the global cyber security market with the global as well as Asia Pacific market size and growth along with a competitive landscape. This is collaborated with snapshots and some facts associated with global cyber security arena. Then the report goes on to describing the Indian market along with its market size and growth. It gets followed by a brief detailing about the different types of cyber attacks witnessed across the cyber space. This gets immediately succeeded by a value chain analysis that speaks about the individual components that summarize the process of providing security solutions. Next in line is an elaborated discussion on the types of cyber security and brief descriptions added with it. Then next section speaks about the best practices followed in the market in terms of cyber security solutions. It then discusses about the market scenario in SMEs and associated growth opportunity in the said sector.
Brief descriptions of the drivers that help the sector to prosper include increased wired and wireless usage, rapid computerization, presence of smart handheld devices, growth of e-commerce, growth in cloud computing and rise in cyber attacks. Increase in the usage of internet both in the wired as well as wireless forms make for a potential driver for the cyber security market in India. As broadband penetration intensifies and Wi-Fi hotspots develop across the country, systems are more prone to cyber attacks thereby demanding protection in terms of cyber security. As computerization grows enormously in the country both in personal as well as industrial category, cyber security derives growth as cyber threats hover above. Higher adoption of smart handheld devices like smartphones also call for security measures as companies indulge in providing tablet PCs to their employees and information breach always remains a possibility. A significant stimulant in this aspect is the growth of e-commerce which entails online transactions and related information that are more vulnerable to attacks thereby calling forth security measures. Cloud computing which enables access to data, applications, storage by getting a server connected to the internet to users from anywhere in the world, has also emerged as a potential area wherein need for security measures stem from the fact that increased access means higher chances of attacks. Finally, as companies rely on tonnes of data generated domestically and globally, any kind of assault proves to be disastrous to their functioning which is seen in the rise of cyber attacks over the years, thus requiring preventive measures taken rendering growth to the sector. While these factors can be termed as growth drivers there are certain factors that act as impediments to the sector including availability of pirated software and lack of interest in updating software.
This is followed by a section that speaks about the Government participation in the sector which caters to Government initiatives, CERT-In and cyber laws.
The next section deals with the vendor opportunities for cyber security solutions and discusses key sectors like BFSI, Manufacturing, IT and Telecommunication, Healthcare, Retail and Energies & Utilities.
The competition section offers a competitive landscape of the players by providing their financials and key financial ratios. It also provides basic information regarding the organizations. Key financial parameters constitute the financial performances of the players which are followed by business highlights.
The report concludes with a section on strategic recommendations which comprises an analysis of the growth strategies of the cyber security market in India.
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