DSCI's Indian Cyber Security Landscape Report - 5 key takeaways
Today, businesses and industries are becoming more reliant on the internet and with it so much of our daily lives is conducted online. Whether a company is selling a product or a service, it is likely that even a few hours without internet connectivity can severely impact the business. And as more and more organizations continue to tread in this direction the need for cyber security becomes even more crucial. Without proper means of security, your business is vulnerable to countless different forms of cyberattack.
At an hour when the need and importance of cyber security is on the rise, it is great to see the cyber security landscape growing too. NASSCOM’s Data Security Council of India (DSCI) has launched its report, ‘Indian Cyber Security Landscape – Scripting a promising story’ at the Annual Information Security Summit (AISS) 2018, that draws light on the growing cyber security landscape in India and showcases the technological capabilities, go-to-market strategies, achievements, evolution and progress of Indian cyber security product companies.
Shri Ajay Prakash Sawhney, Secretary, Ministry of Electronics and Information Technology, Government of India, remarked,
“It is quite an impressive story that Indian product companies and start-ups have created, especially the pace of growth witnessed in the last decade. Indian product companies are marking their footprints, not only in the domestic market but also globally, with many emerging companies showing steep growth which is quite remarkable. “
1) Evolution of the cyber security landscape in India
Cyber security in India has come a long way in the last few years and has gained huge importance in recent times with digitization taking over. According to the report, India now has a promising base of more than 175 cyber security product companies, 70% of which were incorporated in the last decade.
2) Key Product Segments
Identity and Access Management (IAM), network security, threat intelligence and security analytics, and data security have been identified to be the top product segments of focus. The following image describes the product segments analysis and their popularity by number of companies in each segment and also by market adoption of each product segment.
You can also go through the following table to understand the definition of each product segment:
3) Product Type
The cyber security product market is divided based on the type of product, its application, deployment and so on. The report emphasizes the importance of understanding the cyber security market base for your product and determine your go-to-market strategy.
Pure-play vs. Diversified
The report shows that around 65% of enterprises provide cyber security products and services and thus we can say that the market is dominated by these integrated players, however, a good 33% of companies are also pure-play cyber security product companies. There are a number of companies (almost 50%) that focus on a single product segment at the stage of their inception as it helps with better R&D and then move on to multiple segments.
Apart from these, there are also companies (about 25%) that offer products and services beyond cyber security, such as mobility, IoT, automation, digital payments, data management, communication and collaboration. India, predominantly being the software powerhouse, around 83% of Indian cyber security product companies offer software products. Those companies in the hardware space are primarily focusing on the local market for outreach.
Cloud vs. On-Premise
One of the major key findings of this report is that almost 80% of the cyber security product companies in India are cloud-ready. With the help of the following image we can understand that those companies that offer cloud-products or on-premise only products have an extremely niche market while those offering both deployments are widely accepted across the globe.
4) Core Technologies
The focus of cyber security product companies today is on technologies such as AI/ML, automation, analytics, encryption, blockchain, threat intelligence, and quantum cryptography. More than 1/3rd of the companies are now offering AI/ML enabled products.
AI and ML is being leveraged in network security and security analytics to provide various value-adds, whereas encryption is used in endpoint security products. Blockchain on the other hand, is used in companies to provide IAM and data security products.
5) Export Market and India Market
US, UAE, Singapore, and the UK have been recognized to be the top geographies where Indian cyber security product companies have a sales presence. It has also been observed that network security, IAM, threat intelligence and security analytics seem to be popular across these top four markets.