India Cyber Security Market Size & Outlook, 2023-2030
India cyber security market, 2018-2030 (US$M)
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India cyber security market highlights
- The India cyber security market generated a revenue of USD 8,483.3 million in 2023 and is expected to reach USD 25,868.0 million by 2030.
- The India market is expected to grow at a CAGR of 17.3% from 2024 to 2030.
- In terms of segment, services was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
Cyber security market data book summary
| Market revenue in 2023 | USD 8,483.3 million |
| Market revenue in 2030 | USD 25,868.0 million |
| Growth rate | 17.3% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | BAE Systems PLC, Broadcom Inc, Check Point Software Technologies Ltd, Cisco Systems Inc, Fortinet Inc, International Business Machines Corp, Lockheed Martin Corp, LogRhythm, McAfee, Palo Alto Networks Inc, Proofpoint, Sophos, Trend Micro Inc |
Other key industry trends
- In terms of revenue, India accounted for 3.8% of the global cyber security market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China cyber security market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 25,868.0 million by 2030.
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Cyber Security Market Scope
Cyber Security Market Companies
| Name | Profile | # Employees | HQ | Website |
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India cyber security market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cyber security market will help companies and investors design strategic landscapes.
Services was the largest segment with a revenue share of 50.39% in 2023. Horizon Databook has segmented the India cyber security market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
The adoption of mobile technologies and rapid digitization in industries such as BFSI, manufacturing, and healthcare are some of the factors increasing the intensity of cyberattacks in the country. Moreover, while the country’s financial sector has witnessed drastic growth from the implementation of Digital India, UPI, and Jan-Dhan Yojana, it is also among the most exploited sectors by cybercriminals.
The country witnessed more than 1.39 million cybersecurity attacks in 2022. One of the biggest challenges faced by Indian organizations is their cybersecurity infrastructure, which requires regular updates, more flexibility, and robustness to deal with the growing sophisticated cyber threats.
For instance, in January 2018, the Ministry of Electronics and Information Technology (MeitY) introduced the Cyber Surakshit Bharat initiative with the aim to strengthen the cybersecurity landscape in India, along with supporting the government's Digital India initiative.
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Our clientele includes a mix of cyber security market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India cyber security market , including forecasts for subscribers. This country databook contains high-level insights into India cyber security market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India cyber security market size, by component, 2018-2030 (US$M)
India Cyber Security Market Outlook Share, 2023 & 2030 (US$M)
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