India Security System Integrators Market to Witness 18% CAGR until 2024

Increasing cases of cybercrimes, surging adoption of cloud computing and rising number of small & medium-sized enterprises to propel India security system integrators market through 2024  

According to TechSci Research report, “India Security System Integrators Market By Security Type, By Organization Size, By Industry Vertical, Competition, Forecast & Opportunities, 2024’’, India security system integrators market is projected to grow at a CAGR of more than 18% during 2019 – 2024 owing to growing incidences of cybercrimes in India, surging adoption of cloud computing services and rapid development of interconnectivity between multiple industries across the country. Additionally, rising number of small & medium-sized enterprises and Draft of Personal Data Protection Bill, 2018, is further anticipated to fuel growth in India security system integrators market in the coming years. Wipro Limited, HCL Technologies Ltd, Tata Consultancy Services Limited and Tech Mahindra Limited are few of the major companies operating in India security system integrators market.

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Among security type, network security system integrators dominate India security system integrators market as network security involves various solutions such as firewall, Intrusion Detection Systems/Intrusion Prevention System (IDS/IPS), Unified Threat Management (UTM), Virtual Private Networks (VPNs), etc., which help to protect client data along with the information that is being shared between computers on the network. However, risk & compliance management security system integrators segment is expected to grow at the fastest CAGR during forecast period as it enables companies to reduce risk and uncertainty that can arise due to change in government policies & technological ecosystem and also aids companies in adhering to rules, policies and guidelines. On the basis of organization size, India security system integrators market is segmented into large enterprises and small & medium enterprises, of which the former dominates the market as they are more vulnerable to cyberattacks.

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Cities like Kochi, Chennai and Kolkata are part of the Government of India’s grand scheme to develop smart cities under Smart Cities Mission. As a result, these cities are expected to witness increase in investment, thereby developing into lucrative markets for cyber security providers. “South region leads India security system integrators market owing to the large BFSI and IT & Telecom base coupled with the growing number of SMEs in the region. Moreover, increasing adoption of automation and rising trend of BYOD (Bring Your Own Device) and enterprise mobility is aiding the growth of India security system integrators market. Additionally, surging number of connected devices would further steer growth in India security system integrators market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Security System Integrators Market By Security Type, By Organization Size, By Industry Vertical, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of India security system integrators market and provides statistics and information on market size, structure and future market growth. The report offers decision makers superior market intelligence, thereby enabling them conduct thorough investment appraisal. Besides, the report also analyzes the evolving market inclinations along with indispensable drivers, challenges and opportunities in India security system integrators market.

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