Data Security Council of India has released the India Cybersecurity Industry Report – Services & Product Growth Story at the DSCI Excellence Industry Awards. It was launched by Ajay Sawhney, Secretary, MeitY in the presence of Debjani Ghosh, President, NASSCOM; Rajendra S Pawar, Chairman, DSCI, and Rama Vedashree, CEO, DSCI.
Read Report: https://www.dsci.in/content/india-cybersecurity-industry-2021
The cybersecurity services and product industry have combined revenue of USD 9.85 billion in 2021 and grew at a CAGR of ~40 percent in the last two years. The services industry grew from USD 4.3 billion in 2019 to USD 8.48 billion in 2021 at a CAGR of 40.33 percent. The product industry grew from USD 740 million in 2019 to reach USD 1.37 billion in 2021 at a CAGR of 36.49 percent.
The industry is moving towards a platform-based approach to offer holistic solutions and simplify security integration and deployment. 78 percent & ~76 percent of the analyzed services and product companies respectively offer platform-based services and products wherein 74 percent leverage AL/ML to enhance their offerings.
There is a demand for cybersecurity talent with services companies having a cybersecurity workforce of 2.18 lakhs and product companies having ~27K workforce, in 2021. The Indian cybersecurity industry is constantly expanding its global footprint with a presence in the US, Canada, UK, France, Australia, Singapore, and UAE.
