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

RELEASE DATE
29-Apr-2020
REGION
South Asia, Middle East & North Africa
Deliverable Type
Market Research
Research Code: 4M01-01-00-00-00
SKU: IT04081-SA-MR_24211
AvailableYesPDF Download

$4,950.00

Special Price $3,712.50 save 25 %

In stock
SKU
IT04081-SA-MR_24211

$4,950.00

$3,712.50save 25 %

DownloadLink
ENQUIRE NOW

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

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.--BEGIN PROMO--

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?
More Information
Deliverable Type Market Research
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