DigitalCIO
No Result
View All Result
  • Home
  • Tech News
  • Market Insights
  • CIO Interviews
  • Events and Conferences
  • Opinion and Analysis
  • Resources
DigitalCIO
  • Home
  • Tech News
  • Market Insights
  • CIO Interviews
  • Events and Conferences
  • Opinion and Analysis
  • Resources
No Result
View All Result
Digitalcio
No Result
View All Result
Home Archive

India’s cybersecurity market to touch USD 3 bn by 2022

DigitalCIO Bureau by DigitalCIO Bureau
December 5, 2019
in Archive
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

Source: PTI

The transaction value of digital payments in India is estimated to grow annually at a rate of 20.2 per cent from about USD 64.8 billion in 2019 to USD 135.2 billion in 2023, the report by PwC India and Data Security Council of India said.

India’s cybersecurity market is expected to register an annual growth of 15.6 per cent and rise to USD 3.05 billion (about Rs 21,600 crore) by 2022 from USD 1.97 billion (about Rs 14,000 crore) in 2019, a report said. The transaction value of digital payments in India is estimated to grow annually at a rate of 20.2 per cent from about USD 64.8 billion in 2019 to USD 135.2 billion in 2023, the report by PwC India and Data Security Council of India (DSCI) said.

“Driven by the digitisation of the country’s business environment and the Digital India mission, among others, the cybersecurity market is expected to rise from USD 1.97 billion in 2019 to USD 3.05 billion by 2022 – a CAGR of 15.6 per cent – almost 1.5 times the global rate,” it said.

Digital growth, rising cyber-attacks, and stringent regulatory mandates are the three main factors driving India’s cybersecurity market.

India’s cybersecurity market will be defined by three key sectors — banking and financial services industry (BFSI), information technology (IT) and information technology-enabled services (ITeS), and government, it added.

Altogether, these sectors will account for 68 per cent of the cyber market share.

With more than half a billion people in India now using the internet and the number of users expected to register double-digit growth within years, strong security systems are all the more imperative, it said.

In a scenario rife with varied possibilities for cybercriminals, it’s crucial for the country to have a vibrant security apparatus which safeguards India’s systems as well as rising stature as a significant investment hub.

The report said that more than 12.3 billion mobile applications were downloaded in India in 2018.

Social network user numbers in India are expected to grow from 326 million in 2018 to 422 million in 2022 (second only to China), it added.

Share30Tweet19
DigitalCIO Bureau

DigitalCIO Bureau

Recommended For You

Pax8 Introduces Era of Managed Intelligence

by DigitalCIO Bureau
June 19, 2025
0
Pax8 Introduces Era of Managed Intelligence

Pax8 has released its inaugural research report, The Agentic Inflection Point: And the Rise of the Managed Intelligence Provider. The comprehensive study defines the future of small-to-midsized business (SMB) operations, transformed...

Read moreDetails

Barracuda Unveils AI-Powered Cybersecurity Platform BarracudaONE in India

by DigitalCIO Bureau
June 3, 2025
0

Barracuda Networks has unveiled the BarracudaONE AI-powered cybersecurity platform. BarracudaONE maximizes threat protection and cyber resilience by unifying layered security defenses and providing deep, intelligent threat detection and response for...

Read moreDetails

Check Point Acquires Veriti To Minimize Digital Vulnerabilities

by DigitalCIO Bureau
May 28, 2025
0
Check Point Acquires Veriti To Minimize Digital Vulnerabilities

Check Point Software Technologies has announced a definitive agreement to acquire Veriti Cybersecurity, the first fully automated, multi-vendor pre-emptive threat exposure and mitigation platform. “The acquisition of Veriti...

Read moreDetails

Vats Srivatsan named Interim CEO of WatchGuard Technologies

by DigitalCIO Bureau
May 8, 2025
0
Vats Srivatsan named Interim CEO of WatchGuard Technologies

WatchGuard Technologies Chief Executive Officer (CEO) Prakash Panjwani will transition out of his operational role, continuing to serve on the Board of Directors and as a strategic advisor...

Read moreDetails

Google 2024 Ads Safety Report: AI plays key role in safer advertising ecosystem

by DigitalCIO Bureau
April 19, 2025
0
Google 2024 Ads Safety Report: AI plays key role in safer advertising ecosystem

Google has released its 2024 Ads Safety Report, demonstrating how it is using advanced AI technology to create a safe and responsible advertising ecosystem. A notable finding from...

Read moreDetails
Next Post

How Robots Help in Interviewing Potential Candidates for Banks

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related News

NETGEAR Orbi RBK50 Mesh System to Augment Your Home Wi-Fi Network for Improved Work Efficiency

May 19, 2020

IT captives see project delays amid lockdown

March 24, 2020
Fortinet and Samsung Heavy Industries sign MOU  on maritime cybersecurity

Fortinet and Samsung Heavy Industries sign MOU on maritime cybersecurity

March 28, 2024

Browse by Category

  • Acquisition
  • Appointment
  • Archive
  • Artificial Intelligence
  • CIO Interviews
  • Cloud
  • Datacenter
  • Events and Conferences
  • Market Insights
  • News
  • Opinion and Analysis
  • Products
  • Resources
  • Security
  • Storage
  • Tech News
  • Telecom
Digitalcio

Welcome to DigitalCIO, your ultimate source for staying ahead in the ever-evolving world of technology and business.

BROWSE BY TAG

Acquisition AI Appointment artificial intelligence Artificial Intelligence and Machine Learning AWS Big Data and Analytics Blockchain CISCO Cloud Computing Cloudflare Commvault CrowdStrike Cybersecurity Dell Technologies Digital Transformation Dynatrace E-books Fortinet Gartner GenAI Generative AI Google Cloud HCLTech Honeywell IBM Infographics Internet of Things (IoT) Kaspersky Microsoft Netskope NTT DATA Palo Alto Networks Panel Discussion Qlik Salesforce ServiceNow Sophos Tenable Veeam Veeam Software Vertiv Webinars Whitepaper Zscaler

CATEGORIES

  • Tech News
  • Market Insights
  • CIO Interviews
  • Events and Conferences
  • Opinion and Analysis
  • Resources
  • Archive

NAVIGATION

  • Home
  • About Us
  • Advertise with Us
  • Contact Us

© 2024 digitalcio.in - All rights reserved.

No Result
View All Result
  • Home
  • Tech News
  • Market Insights
  • CIO Interviews
  • Events and Conferences
  • Opinion and Analysis
  • Resources

© 2024 digitalcio.in - All rights reserved.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?