India Security Testing Market Forecast 2021-2025
The India security testing market is set to project a CAGR of 23.25% during the forecast period, 2021-2025. The increasing need to support secure enterprise mobility practices within organizations is projected to fuel the demand for cybersecurity solutions in the country.
India ranked third with regard to the highest number of cyber threats in 2017, and second in terms of targeted attacks, according to Symantec. There is a uniform increase in the number of cyberattacks cases. Cosmos Bank witnessed a massive cyberattack in August 2018, wherein almost INR 94 crores were withdrawn. Also, crucial user information was stolen. In another instance, a prominent e-commerce portal reported a technical glitch, wherein tax reports of some of its sellers were exposed. The critical infrastructure of the country is owned by the private sector, with armed forces having their own agencies. There is a lack of national security architecture that entails unified efforts of all these agencies for assessing the nature of threats. Such factors are estimated to boost the integration of cybersecurity solutions in businesses and create new avenues for industry players. Such factors are expected to contribute to the market growth of security testing in India.
Some of the eminent companies in the market include, Cisco Systems Inc, MacAfee Llc, Paladion Networks Pvt Ltd, ControlCase Llc, IBM Corporation, etc.
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