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- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
As businesses across the world are adjusting to the new normal of preserving business continuity in the face of a pandemic, their data is becoming increasingly exposed to hackers. In its quest for fast digital transformation, India Inc. is also confronted with a high-risk environment. Multiple endpoints in data chains have been developed as a result of new operating models, giving attackers access to critical company data. The Indian Computer Emergency Response Team (CERT-In) observed approximately 6.07 lakh cybersecurity events in the first half of 2021 alone, including 12,000 cases involving government organizations.
Businesses and governments across the world are doubling their efforts to increase cyber resilience in the wake of a series of high-profile attacks. As a result, next-generation cybersecurity technology (both software and hardware) is in great demand, resulting in favourable financial outcomes for cybersecurity enterprises in 2021. Initially in 2021, cybersecurity outperformed the S&P 500 and Nasdaq by 16.8%. The market has grown by 592% in the last 10 years, reaching US$425.8 billion in 2021. The scenario in India is very similar to the one in the United States.
Enterprise security and risk management investment in India is predicted to expand 9.5% from 2020 to US$2.08 billion in 2021. The need for cybersecurity goods will continue to rise for a variety of reasons. Companies that provide such items will see their stock values rise as a result of this.
Organizations are more exposed to cyber dangers than ever before as remote working arrangements become increasingly common. Employees rely on their gadgets and home networks in remote work setups. These don't have the same level of security as a corporate setting. As a result, they create a weak point in a business network's security.
Data risk is becoming more widely recognized among tech-savvy customers. This is particularly true as our lives become increasingly electronically linked, with anything from sensors to 5G. Consumers are wary of digital businesses and criminal actors probing into their personal lives.
Organizations are being severely harmed by ransomware and other sophisticated assaults. Ransomware assaults have wreaked havoc on India. According to research, India experienced the greatest number of weekly assaults per organization (213) in the first few months of 2021.
Quick Heal Technologies– Quick Heal, one of the top cyber security product and solution providers, offers a spectrum of cloud-based security and machine-learning-based solutions to keep threats and harmful traffic at bay. It now has a 30% retail market share and plans to expand further through deeper penetration into tier-I and tier-II cities. The enterprise division generates 18% of the company's sales. The firm had a solid quarter in FY2021, with sales rising 63.9% year on year to Rs 105 crore.
SecureKloud Technologies– SecureKloud is a cloud-native company that provides enterprise security solutions, services, and platforms. The firm offers a proprietary identity and access management system that, among other things, can assist enterprises with security, access control, governance, scalability and full identity life cycle management. The company's software, Cloud Authmulti-factor authentication, secures a range of business applications by confirming unique identities in seconds. As of October 21, 2021, the company's stock price has increased by more than 100% YTD.
Cybertech Systems and Software– Enterprises may use the company's risk intelligence products, which include tactics for predicting risk and minimizing harm. Companies get real-time incident reporting, asset danger visualization, and in-depth analysis of global changes that might affect their operations and staff. In Q1 2021, the company's net profit increased by 382.7% to Rs 2.80 crore, a significant increase from the Rs 0.58 crore in Q1 2020.
RS Software– The world's largest corporations use RS Software's specialized e-payment systems. The prevention of fraudulent digital payments transactions is one of the company's main services. It may create predictive fraud models based on client data, resulting in a common fraud detection model. In addition, the organization provides consulting services on worldwide regulatory compliance in payment mechanisms. It is now valued at Rs 85.74 crore on the stock market. The firm earned Rs 375.98 crore in total revenue and Rs 353.8 crore in gross sales in the third quarter of 2021.
India is unquestionably at a critical juncture in its economic recovery. As India moves on with fast digital transformation to establish resilience against pandemic-like catastrophes, cyber resiliency will be critical. As a result, the industry may provide significant investment potential.
