Indian cybersecurity services industry to touch $13.6 bn by 2025: Nasscom
The Indian cybersecurity services industry is expected to grow at a compound annual growth rate (CAGR) of about 21 per cent to touch USD 13.6 billion by 2025, a report by Nasscom-DSCI said on Thursday.
The industry had generated a cumulative revenue of about USD 4.3 billion in 2019, and this is expected to reach USD 7.6 billion in 2022, the report titled 'India Cybersecurity Services Landscape' said.
It added that due to COVID-19 pandemic, cybersecurity is gaining an even higher attention from enterprises and governments alike.
Banking, financial services and insurance (BFSI), IT and telecom were key verticals of focus and threat and vulnerability management along with infrastructure and cloud security are key segments in demand, the report said.
Also, about 80 per cent revenue of cybersecurity services comes from global market, and the US, the UK and Australia were the top three geographies of focus, it added.
The global cybersecurity services market is expected to reach USD 89 ...