Exponential Growth in Internet Usage across Varied Segments Boosts Security Software Market03 Nov 2011 • by Natalie Aster
Mumbai, India – Increased usage of internet and presence of abundant cyber attack prone devices, is primarily stimulating growth in the security software market. Netscribes (India) Pvt. Ltd., a knowledge consulting solutions company, announces the launch of the report “Security Software Market in India 2011”.
Currently, the market is estimated to hover around INR 8.4 bn and is expected to achieve a CAGR of 15.3% to reach a market value of INR 12.8 bn by 2014. With the ongoing rate of mass computerization, security software products and solutions are expected to experience a tremendous demand which will fuel growth in the security software market.
Security Software Market in India 2011
Published: October 2011
Security Software Market Overview:
- Frequent use of internet enabled systems and handheld devices is primarily driving security software market in India;
- Security software market in India is witnessing a steady growth and finds fair adoption amongst both the consumer as well business segment;
- Internet based business concepts such as enterprise mobility and cloud computing is resulting in rapid computerization and heavy usage of internet and thus is expected to offer ample opportunity for security software vendors;
- Malicious softwares such as Trojans, Worms, Viruses and other malwares mainly intrude through the internet;
- Factors like the frequent usage of storage peripherals and handheld devices is further fueling the rate of cyber attacks;
- The market is broadly classified into consumer, SMBs and corporate segment wherein vendors offer specific products for individual segments;
- Security software vendors sell their products through various means, some of which include direct sales, online portals, salesforce and channel partners.
Secrity Software – Market Size and Growth
- Rapid Computerization;
- Abundant Presence of Smart Handheld Devices;
- Increased Internet Usage;
- Frequent Usage of Storage Peripherals;
- Rapidly Growing E-Commerce;
- Rising Cyber Attacks;
- Increased Security Awareness;
- Government Initiative;
- Free of Cost Availability of Pirated Softwares;
- Tendency to Avoid Software Upgrades.
- Rapid change and advancement in technology is resulting in the emergence of newer and more sophisticated malicious softwares;
- Some of the future trends identified comprise of frequent attacks on crucial IT infrastructure, rise in the frequency of zero day vulnerability threats, change in IT security tools and consumers will focus primarily on encryption technologies.
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