Indian Managed Security Services Market, Forecast to 2023
Indian Managed Security Services Market, Forecast to 2023
Lack of Skilled Professionals and Compliance Pressure Drive MSS Adoption
29-Apr-2020
South Asia, Middle East & North Africa
$4,950.00
Special Price $3,712.50 save 25 %
Description
The Indian managed security services (MSS) market is witnessing an increase in MSS adoption due to the trend of widespread digitization and increasingly pervasive cyber threats. Following the continuation of the 'Digital India’ initiative while remaining cyber-safe, the Indian government introduced the Personal Data Protection Bill in 2019 to better protect the privacy of personal data and regulate its usage. With an increasing number of Internet users and enhanced connectivity, it is imperative to keep data private and government records safe.
With the rapidly rising frequency of cybercrimes in India, organizations are under growing pressure to take preventive action against potential threats. The breaches in India’s Nuclear Power Plant show that the measures adopted may not have been adequate and that there is still susceptibility to attack. Thus, keeping cybersecurity measures relevant and up-to-date is of paramount importance.
The uptake of cybersecurity solutions by small and medium-sized businesses (SMBs) has been limited in the Indian market. However, adoption among SMBs recorded stronger growth as compared to that of large enterprises. Moreover, it is becoming increasingly easy for enterprise security departments to receive funding for security projects due to the growing awareness on cybersecurity.
The lack of skilled security professionals remains a problem for India, often leading organizations to resort to security consulting and outsource their security tasks to managed security service providers (MSSPs). The banking, financial services, and insurance (BFSI) vertical continues to pioneer digital adoption, followed by stronger growth in manufacturing and others (including pharmaceuticals, retail, and logistics).
In addition to providing a market growth analysis, this study highlights the key drivers in the managed security services market. These include: persistent lack of cybersecurity professionals; proliferation of cyberattacks and a growing threat landscape for enterprises and governments; growing risk and security awareness among end users in the APAC region; and government support for cybersecurity development and adoption.
Market trends are analyzed from 2017 to 2023, taking 2018 as the base year. MSS is the key focus area of this study. The vertical segmentation includes government, BFSI, service provider, manufacturing, education, and other sectors (including pharmaceuticals, retail, logistics, oil and gas, energy, mining, agriculture, IT/ITES, eGaming, eCommerce, and BPOs).
Companies mentioned in the total MSS market's competitive landscape include BT, DXC Technology, IBM, HCL Comnet, Microland, NTT, Tata Communications, Tech Mahindra, Trustwave, Wipro, and other smaller MSSPs.
Key Issues Addressed
- Is the market growing? If yes, how long will it continue to grow and at what rate?
- Which are the key services adopted by customers in the market?
- How is the competitive landscape in India?
- Will MSSPs be replaced by new trends such as insourcing and cloud-based security services?
- How will the market evolve in the next 5 years?
Table of Contents
Market Definitions
Managed Security Service Types
Market Overview—Definitions
Market Overview—Definitions (continued)
Key Questions this Study will Answer
Market Segmentation
Research Scope
Geographic Coverage
Key Findings
Market Engineering Measurements
Market Engineering Measurements (continued)
Revenue Forecast
Percent Revenue Forecast by Segment
Revenue Forecast by Segment
Revenue Forecast Discussion by Segment
Competitive Analysis
Competitive Environment
Growth Opportunity 1—Continued Trend Toward the Outsourcing of Cybersecurity Operations
Growth Opportunity 2—Enterprises Shifting to the Cloud and MSSPs to Help Protect These Multi-cloud Environments
Growth Opportunity 3—Hybrid MSS Capabilities to Become More Important
Growth Opportunity 4—Larger, Mature Enterprises Looking for More Advanced Security Services
4 Major Growth Opportunities
Strategic Imperatives for Success and Growth
Availability and Completeness of MSS Solutions
Regional Geographic Coverage of Managed Security Service Offerings
Country/Region Legends for Security Operations Centers
DXC Technology
IBM Security
Tata Communications
3 Big Predictions
Legal Disclaimer
Market Engineering Methodology
List of Exhibits
Popular Topics
Key Issues Addressed
- Is the market growing? If yes, how long will it continue to grow and at what rate?
- Which are the key services adopted by customers in the market?
- How is the competitive landscape in India?
- Will MSSPs be replaced by new trends such as insourcing and cloud-based security services?
- How will the market evolve in the next 5 years?
No Index | No |
---|---|
Podcast | No |
Author | Vivien Pua |
Industries | Information Technology |
WIP Number | 4M01-01-00-00-00 |
Is Prebook | No |
GPS Codes | 9705-C1 |