The advancements in technology and its usage have connected people, businesses and organisations in India and brought them closer, leading to economic progress. However, these advancements come with critical vulnerabilities which can be exploited by those who are experts in misusing technology for economic gains. Cyber security breaches across organisations have become commonplace, regularly grabbing headlines that alarm both consumers and leaders.
Data and interconnectivity swells, developing strong resilience to withstand cyberattacks has never been more important. Cyber security market in India – driving factors. The cyber security market is crucial to ensuring India’s stature as one of the world’s leading investment hubs, as well as the security of its major sectors, and is expected to become more pronounced and grow exponentially. This is in part driven by nationwide initiatives such as Digital India, and increasing digitisation of the country’s business environment and daily life. According to estimates, the cyber security market in India is expected to grow from USD 1.97 billion in 2019 to USD 3.05 billion by 2022, at a compound annual growth rate (CAGR) of 15.6%—almost one and a half times the global rate. While many factors are contributing to this high growth rate, the study shows that three factors are significantly driving the cyber security demand market in India—digital growth, increase in cyberattacks and stringent regulatory mandates.
Digital growth necessitating security investments: A favourable demographic dividend and an increasing literacy rate have resulted in an accelerated adoption of digital lifestyle and data consumption.
Increasing attacks on cyber security systems: As systems get more interconnected, another significant factor the industry is grappling with is the increasing number of breaches and sophisticated cyberattacks, driven by different motives.
Relevant companies, interested to learn more on Israel innovative technology /solutions on Cybertech platform are invited to attend the Cybertech Tel Aviv 2020, features both conference with speakers from around the globe and a massive 3-day exhibition. To be held on January 28-30, 2020, at the Tel Aviv Convention Center, Cybertech Tel Aviv 2020 will feature talks by leading decision-makers, government officials, top executives, and three days of cutting-edge topics from across a wide range of sectors. Web link: https://www.cybertechisrael.com/registration
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