Indian Cyber Security market is growing at a CAGR of around 16.4% during the forecast period. Increasing adoption of cloud storage is estimated to be one of the major factors that are driving the growth of the market in the country. Most of the organizations such as banking, manufacturing, education, healthcare, retail, and so forth have shifted their on-premise applications to cloud-based platforms due to numerous benefits such as scalability and elasticity. Moreover, government initiatives such as “Digital India” in the country are expanding e-governance and are focusing on digital transformation such as cashless transactions. Additionally, increasing Internet penetration and the growing adoption of smartphones in the country are driving the growth of the cyber security market. 

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Moreover, increasing the trend of smart phone users along with social media growth is augmenting the Indian Cyber Security market growth. This high penetration rate of Internet and smartphones has been acting as a lucrative segment to the attackers. Large number of cyber-attacks associated with these devices motivated them to adopt different cyber security solutions. 

Strict cyber laws and regulations in the country are the major motivators of the cyber security market. Cyber laws in India are contained in the Information Technology Act, 2000 often preferred smartphone as the IT Act, this came into existence on October 17, 2000. IT Act is a legislation regulating the use of computer systems and networks and data & information in the electronic format. It has impacted some aspects pertaining to cybercrimes electronic authentication, digital signatures, and liability of network service providers. The original IT Act contained 94 sections, divided into 13 chapters and 4 schedules.As a result, these rules and regulations act as a major motivator of the Indian cyber security market.

Research Methodology

The market study of the Indian Cyber Securitymarket is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Indian Cyber Security Market Research and Analysis by Type

2. Indian Cyber Security Market Research and Analysis by Solution

3. Indian Cyber Security Market Research and Analysis by Vertical

The Report Covers

• Comprehensive research methodology of the Indian Cyber Security market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian Cyber Security market.
• Insights about market determinants which are stimulating the Indian Cyber Security market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.