The Covid-19 pandemic has sped up digital change globally to previously unheard-of levels. The pandemic has altered how people interact and conduct business, increasing our reliance on mobile phones, computers, and other technology. As a result, people, organizations, and even governments are producing more data than usual and becoming more vulnerable than ever. Cyberattacks have increased since the digital boom and now constitute a severe threat from ransomware, malware, and other security flaws.
The statistics show that in 2021, there was a 151 per cent increase in cybercrime, with each firm seeing an average of 270 cyberattacks. A spate of Indian entrepreneurs is innovating and advancing the international cyber security arena to realize the communal ideal of cyber resilience. Since 2020, there have been 225 Indian cyber security firms, up from 175 in 2018 and bringing in double that much revenue. The global wave of cyberattacks has allowed “Make in India” firms to take advantage of untapped markets and experience unprecedented growth.
Security Technology should be Re-evaluated:
As businesses migrate to the cloud, the security perimeter must be expanded to include businesses of all sizes under its purview. The demand for cutting-edge cyber security solutions is more significant than ever, with small and medium-sized organizations targeting roughly 50% of assaults. Conventional cyber security safeguards are getting progressively less effective and relevant as our digital footprint grows. Cyberattacks have become more sophisticated, which has revealed technological and talent gaps.
Innovations in Cyber security Products:
The development of cyberattacks’ size, sophistication, complexity, and variety has increased the need for next-generation cyber security technologies and highlighted the value of company resilience. Indian startups are assuming leadership in cyber resilience and emerging as a dependable and precise option for supplying cutting-edge cybersecurity products globally. Indian startups are developing new and highly advanced cybersecurity technologies, ranging from safeguarding the entire network through a single window to offering AI-based vulnerability management systems. These end-to-end cyber security solutions minimize security gaps and strengthen organizational cybersecurity by instantaneously detecting, mitigating, and removing cyber threats.
Describing International Expansion:
Despite being founded in India, the scope and promise of these firms are not restricted to the country. The global cyber security market, primed for upheaval, is seeing the development potential of Indian entrepreneurs offering cutting-edge cyber security technologies. The Data Security Council of India (DSCI) reports that 24 per cent of cybersecurity businesses from Make in India have gone worldwide and developed a near-immediate presence in markets in the United States, Australia, Singapore, and the Netherlands.
It’s interesting to note that 84 per cent of Indian entrepreneurs’ goods are software-based, and 78 per cent of them come with subscription-based licensing schemes to facilitate adoption. Keeping pace with the widespread shift to the cloud, 63 per cent of organizations utilize AI or one of its branches to improve performance, and 78 per cent of the products developed by Indian cyber security companies are intended for the cloud. Indian startups will play a significant part in driving the global cyber security market, which is anticipated to reach $ 376.32 billion by 2029.
The market opportunity in the area of international cybersecurity is more significant than ever. There will be no stopping ‘Make in India’ businesses if they can unlock the untapped potential of the global cyber security market. Indian cybersecurity businesses are ready to expand and dominate the world thanks to support from the government, innovation, and difficulties. Indian startups are laying the foundation for India to become a powerhouse for global cybersecurity in the following years with their sustained growth and expansion.
Pingback: Fraud Detection and Prevention: Successful Case Studies