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While COVID-19 Would Dampen the Growth of Managed Security Services in India in 2020, in the Longer Run, MSS is Expected to Grow at a CAGR of 21.8% Till 2024
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Currently, most enterprises are undergoing a phase of digital transformation. Investments in emerging technologies have increased substantially, helping companies to bring in operational efficiency and address the growing customer demands. While each of these technologies has brought in a competitive edge among businesses, the concern around digital security has increased manifold.Legacy security solutions were built on the old framework of securing just the perimeter. Enterprises could draw a line and were somewhat sure on how to protect themselves. However, with growing concepts such as cloud and enterprise mobility, the demarcation of the perimeter has faded away. Modern enterprises have not only adopted the cloud but are also considering moving critical assets on the hosted environment. This would require the use of security tools that protect data on the cloud. The managed model of security services helps enterprises get access to the latest security technologies without spending heavily on procuring capital infrastructure. While MSS has been in place for quite some time, a shift in offerings from a customer premise equipment (CPE) based to Hosted MSS is observed in India.
This research service analyzes the current state of MSS in India. During the research process, the impact of COVID-19 has been factored in to estimate the market size in 2020 and thereafter. With an aim to provide the readers a comprehensive understanding of the market (current and future), a well-tested step-by-step research methodology has been followed, which is an ideal mix of primary and secondary research.
The study starts with the key highlights in MSS for India in 2019. It takes a look into the trends affecting the growth of MSS in India. Given that MSS has been in India for long, the various service offerings are plotted on a maturity curve. The study provides a perspective on the existing cybersecurity regulations in India and also upcoming ones (e.g., the Personal Data Protection). Frost & Sullivan has also predicted the Indian MSS market for 2020. The study also talks about the Global Cybersecurity Index and where India stands. Enterprise challenges and the shifting threat landscape have also been captured in the study.
This outlook estimates the market size of MSS in India in 2019 and forecasts it till 2024. Segment-level analysis includes security asset monitoring and management; threat research, intelligence, detection, and remediation; risk and compliance management; and advanced/emerging MSS. Additionally, the market is segmented across industry verticals and horizontals. Key market participants impacting the growth of the market are mentioned. Finally, the study provides a peek into the top security technologies, the Indian cybersecurity start-up ecosystem and growth opportunities for managed security service providers (MSSPs).
Key Issues Addressed
Author: Rajarshi Dhar
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