India Managed Security Services Market Adoption: Trends and Challenges

Written by Jack  »  Updated on: July 08th, 2024

India Managed Security Services Market Adoption: Trends and Challenges

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The Managed Security Services (MSS) market in India, as outlined in the latest TechSci Research report the India Managed Security Services market was valued at USD 1.69 Billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 15.72% through 2029. This growth mirrors the increasing significance of cybersecurity in an increasingly digital world. As organizations across various industries undergo digital transformation and expand their online presence, they face a growing array of cyber threats and vulnerabilities. This scenario has led to a surge in demand for MSS providers capable of offering comprehensive and proactive security solutions.

Key drivers behind the growth of the MSS market in India include the escalating frequency and sophistication of cyberattacks. With India's expanding digital footprint, including a flourishing e-commerce sector and a rising number of smartphone users, cybercriminals have found new avenues to exploit vulnerabilities. This has prompted organizations to seek professional MSS providers offering round-the-clock monitoring, threat detection, and incident response services to safeguard their digital assets and customer data.

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In this report, the India Managed Security Services market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

India Managed Security Services Market, By Service Type:

  • Managed Intrusion Detection System (IDS)/Managed Intrusion Prevention System (IPS)
  • Security Information & Event Management
  • Managed Firewall
  • Unified Threat Management
  • Others

India Managed Security Services Market, By Deployment Type:

  • On-Premises
  • Cloud

India Managed Security Services Market, By Organization Size:

  • Small & Medium-sized Enterprises (SMEs)
  • Large Enterprises

India Managed Security Services Market, By End User:

  • Government
  • BFSI
  • IT & Telecom
  • Manufacturing & Natural Resources
  • Others

India Managed Security Services Market, By Region:

  • North India
  • South India
  • West India
  • East India

Regulatory changes and compliance requirements have also significantly shaped the MSS landscape in India. The introduction of the Personal Data Protection Bill and various industry-specific regulations has compelled organizations to prioritize data security and privacy. MSS providers have played a vital role in helping businesses align with these regulations, ensuring not only protection from cyber threats but also compliance with the law.

Furthermore, the COVID-19 pandemic has accelerated the adoption of remote work and cloud-based technologies. While these trends have provided flexibility and efficiency benefits, they have also expanded the attack surface for cybercriminals. In response, MSS providers in India have adapted by offering specialized services tailored to securing remote work environments and cloud infrastructure.

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The MSS market in India is witnessing a shift towards a more holistic approach to cybersecurity, with organizations seeking providers offering a full spectrum of services, including threat intelligence, vulnerability management, and incident response. This shift reflects the recognition that cybersecurity is not merely a cost center but a strategic investment that can protect an organization's reputation and bottom line.

The market is segmented based on security type, deployment mode, organization size, end-user, and region. The network security segment emerges as the dominant force, maintaining influence throughout the forecast period. This dominance can be attributed to the pivotal role of network security in streamlining and enhancing the entire testing process.

Key market players in the India Managed Security Services market include:

  • IBM India Pvt. Ltd.
  • Wipro Limited
  • Tata Consultancy Services (TCS) Limited
  • HCL Technologies Pvt. Ltd.
  • Infosys Pvt. Ltd.
  • Tech Mahindra Limited.
  • Orange Business Services India Private Limited.
  • Symantec Software Solutions Private Limited.
  • Secureworks India Private Limited.
  • Atos Pvt. Ltd.

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Mr. Karan Chechi, Research Director at TechSci Research, highlights the southern region of India, particularly states like Tamil Nadu and Karnataka, as positioned to experience remarkable growth in the MSS market. The region's vibrant technology ecosystem and growing cybersecurity needs contribute to this trend.

The report "India Managed Security Services Market Segmented by Security Type, Deployment Type, Organization Size, End User, Region, Competition, Forecast & Opportunities, 2019-2029" aims to provide market intelligence and assist decision-makers in making informed investment decisions. It identifies emerging trends, drivers, challenges, and opportunities in the India managed security services market.

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