India Managed Security Services Market Analysis and Forecast 2019-2028
$2,380.00 – $4,800.00
Mega campaigns such as smart cities initiative are working as side support for the growth of India’s managed security services market
India managed security services market was estimated at US$ 450 million in 2021 and is expected to gain a robust growth rate of around 24% during the forecast period 2022-2028. Managed security services are monitoring and management of security devices and systems. Some of the pivotal growth drivers of India’s managed security service markets include scarcity of in-house expertise and human talent, evolving regulatory and compliance requirements, increased awareness of reputational risks, and revenue losses associated with sensitive data breaches, coupled with the increasing complexity of targeted attacks.
Moreover, mega campaigns such as Smart Cities Initiative, Digital India, and Make in India are likely to propel managed security services growth in the country; technological trends like virtualization, Bring Your Own Device (BYOD), cloud, and Big Data are likely to be the differentiators.
Despite businesses making significant investments in security systems and procedures, cyberattacks are always evolving in terms of sophistication and audacity. The need for managed security services will increase across industries due to emerging threats and a rapidly shifting regulatory environment. The managed services business in India is mostly untapped and is anticipated to expand considerably more quickly than it has in the US and Europe.
BFSI segment is the prominent adopters of managed security services
BFSI segment is dominating the India managed security service market in 2021. BFSI and IT/IT-enabled services (ITeS) are the some of the prominent adopters of managed security services in India and are expected to generate significant revenue over the forecast period. Security breaches, data thefts, compromised passwords are some common forms of cyber-attacks that are of major concern for BFSI organizations. As technology upgrades, new competent cybercriminals and cybercrime strategies are also developing to neutralize the protective security measures taken by India-based BFSI organizations, which shows that the existing cyber security approaches implemented are not enough to secure the gaps in the business systems.
Market Structure and Competitive Landscape
India managed security service market is highly fragmented in nature with the presence of various players in the market. Some of the prominent players operating in India managed security service market include Wipro Ltd, HCL, Paladion, Tech Mahindra, CSC, Dimension Data, Tata Consultancy Services (TCS), HB, IBM Corp., TCL, Reliance Communications, Infosys, Cisco, Nxtra data, McAfee, Capgemini, Accenture, and Cognizant among others.
HCL and Wipro are the two most prominent players together, contributing significantly in the India’s managed security services market in 2021. Furthermore, leading players use standardized tools, automation, processes, platform, and framework to reduce errors and increase efficiency within the threat detection and remediation process. Apart from this, players are also focusing on mergers and acquisitions, and partnerships and collaborations in order to reinforce the share of India’s managed security services market.
- In September 2022, Wipro and Palo Alto Networks announced their collaboration for managed security and network transformation. Together, the two organizations will help simplify, orchestrate, and accelerate the cloud journey for clients.
- In February 2022, ServiceNow Partner NewRocket Acquired India’s Service Stack Technologies. With the acquisition, NewRocket gains a foothold in the Indian ServiceNow market, expands its ServiceNow business opportunities in Europe and Asia.
Key Market Segmentation
RationalStat has segmented the global managed security services market on the basis of type, organizations, vertical, distribution channel, and region.
- By Type
- Security Asset Monitoring and Management (SAMM)
- Risk and Compliance Management (RCM)
- Threat Intelligence, Research, Detection, and Remediation (TIRDR)
- Advanced and Emerging Managed Security Services (AEMMS)
- Distributed Denial of Service (DDoS)
- By Organization
- Enterprise
- Small and Medium Businesses (SMBs)
- By Vertical
- BFSI
- Government
- Manufacturing
- Healthcare
- Technology and Media & Entertainment
- IT/IT enabled services
- Utilities
- Others (Agriculture, Construction, Education, etc.)
- By Distribution Channel
- Direct Sales
- Channel Partners
- Web
- By Region
- North India
- West and Central India
- East India
- South India
Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
Secondary Sources
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for managed security services providers, ICT players, government organizations, regulatory agencies, and market research firms among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
India managed security services market is expected to grow at a CAGR of over 24% during the forecast period 2022-2028.
India managed security services market was valued at US$ 450 million in 2021.
Some of the pivotal growth drivers of India’s Managed security service markets are scarcity of in-house expertise and human talent, evolving regulatory and compliance requirements, increased awareness of reputational risks and revenue losses associated with sensitive data breaches
India managed security services market is expected to grow at a CAGR of over 24% during the forecast period 2022-2028.
Major companies operating in the global managed security services market include Wipro Ltd, HCL, Paladion, Tech Mahindra, CSC, Dimension Data, Tata Consultancy Services (TCS), HB, IBM Corp., TCL, Reliance Communications, etc.
| REGION | India |
|---|---|
| RELEASE YEAR | 2022 |
| RESEARCH CODE | RST-SAR-097 |
| ADDITIONAL FEATURE | 24×7 Post sales support and 15% free customization |
| User License | Single User/Team License, Corporate License |
Table of Contents
1. Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation
2. Assumptions and Acronyms
3. Executive Summary
3.1. India Market in 2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-side Trends
4. Research Methodology
5. Analysis of COVID-19 Impact and Road Ahead
6. Market Indicators and Background
6.1. Macro-Economic Factors
6.2. Forecasting Factors
Robust assessment of various factors including industrial performance, industry players’ expenditures, and economic conditions, among others
6.3. Supply Chain & Value Chain Analysis
6.4. Industry SWOT Analysis
6.5. PESTLE Analysis
6.6. Porter’s Five Forces Analysis
7. Government Laws and Industry Regulations
8. India and Regional Market Dynamics
8.1. Drivers
8.2. Restraints
8.3. Trends
8.4. Opportunities
9. Managed Security Service Market: Technological Roadmap, 2009-2020
10. India Managed Security Services Market: Major Development
Robust assessment of key developments, strategic transactions, and PE transactions in the marketplace
10.1. Buyer
10.2. Target Entity/Company
10.3. Country
10.4. Description
10.5. Deal Rationale
11. Managed Security Services: Pricing Factors
12. Parent Market Overview
12.1. India ICT Market
12.2. India Managed Services Market
13. Segmental Analysis
13.1. India Managed Security Services Market by Type
13.1.1. Security Asset Monitoring and Management (SAMM)
13.1.2. Risk and Compliance Management (RCM)
13.1.3. Threat Intelligence, Research, Detection and Remediation (TIRDR)
13.1.4. Advanced and Emerging Managed Security Services (AEMSS)
13.1.5. Distributed Denial of Service (DDoS)
13.2. India Managed Security Services Market by Organization
13.2.1. Enterprise
13.2.2. Small and Medium Businesses (SMBs)
13.3. India Managed Security Services Market by Vertical
13.3.1. BFSI
13.3.2. Government
13.3.3. Manufacturing
13.3.4. Healthcare
13.3.5. Technology and Media & Entertainment
13.3.6. IT/IT enabled services
13.3.7. Utilities
13.3.8. Others (Agriculture, Construction, Education, etc.)
13.4. India Managed Security Services Market by Distribution Channel
13.4.1. Direct Sales
13.4.2. Channel Partners
13.4.3. Web
13.5. India Managed Security Services Market by Region
13.5.1. North India
13.5.2. West and Central India
13.5.3. East India
13.5.4. South India
14. Regional Analysis
14.1. North India Managed Security Services Market Analysis and Forecast 2019-2028
14.1.1. Regional Market Overview and Key Takeaways
14.1.2. North India Managed Security Services Market by Type
14.1.3. North India Managed Security Services Market by Organization
14.1.4. North India Managed Security Services Market by Vertical
14.1.5. North India Managed Security Services Market by Distribution Channel
14.2. West and Central India Managed Security Services Market Analysis and Forecast 2019-2028
14.2.1. Regional Market Overview and Key Takeaways
14.2.2. West and Central India Managed Security Services Market by Type
14.2.3. West and Central India Managed Security Services Market by Organization
14.2.4. West and Central India Managed Security Services Market by Vertical
14.2.5. West and Central India Managed Security Services Market by Distribution Channel
14.3. East India Managed Security Services Market Analysis and Forecast 2019-2028
14.3.1. Regional Market Overview and Key Takeaways
14.3.2. East India Managed Security Services Market by Type
14.3.3. East India Managed Security Services Market by Organization
14.3.4. East India Managed Security Services Market by Vertical
14.3.5. East India Managed Security Services Market by Distribution Channel
14.4. South India Managed Security Services Market Analysis and Forecast 2019-2028
14.4.1. Regional Market Overview and Key Takeaways
14.4.2. South India Managed Security Services Market by Type
14.4.3. South India Managed Security Services Market by Organization
14.4.4. South India Managed Security Services Market by Vertical
14.4.5. South India Managed Security Services Market by Distribution Channel
15. Competitive Landscape
15.1. Competition Dashboard
15.1.1. Competition Overview
15.1.2. India Market Share Analysis
15.1.3. Market Structure
15.2. Competitive Benchmarking
Key companies operating in the target market segment along with their financials and employee count
15.3. Managed Security Services Market: Industry Mapping
15.4. Key Strategy Analysis
15.5. Company Profiles
15.5.1. Wipro Ltd.
15.5.1.1. Company Overview
15.5.1.2. Product/Service Offerings
15.5.1.3. Financials
15.5.1.4. Recent Developments
15.5.2. HCL
15.5.2.1. Company Overview
15.5.2.2. Product/Service Offerings
15.5.2.3. Key Financials
15.5.2.4. Recent Developments
15.5.3. Paladion
15.5.3.1. Company Overview
15.5.3.2. Product/Service Offerings
15.5.3.3. Key Financials
15.5.3.4. Recent Developments
15.5.4. Tech Mahindra
15.5.4.1. Company Overview
15.5.4.2. Product/Service Offerings
15.5.4.3. Financials
15.5.4.4. Recent Developments
15.5.5. CSC
15.5.5.1. Company Overview
15.5.5.2. Product/Service Offerings
15.5.5.3. Financials
15.5.5.4. Recent Developments
15.5.6. Dimension data
15.5.6.1. Company Overview
15.5.6.2. Product/Service Offerings
15.5.6.3. Financials
15.5.6.4. Recent Developments
15.5.7. Tata Consultancy Services (TCS)
15.5.7.1. Company Overview
15.5.7.2. Product/Service Offerings
15.5.7.3. Financials
15.5.7.4. Recent Developments
15.5.8. HB
15.5.8.1. Company Overview
15.5.8.2. Product/Service Offerings
15.5.8.3. Financials
15.5.8.4. Recent Developments
15.5.9. IBM Corp.
15.5.9.1. Company Overview
15.5.9.2. Product/Service Offerings
15.5.9.3. Financials
15.5.9.4. Recent Developments
15.5.10. TCL
15.5.10.1. Company Overview
15.5.10.2. Product/Service Offerings
15.5.10.3. Financials
15.5.10.4. Recent Developments
15.5.11. Reliance Communications
15.5.11.1. Company Overview
15.5.11.2. Product/Service Offerings
15.5.11.3. Financials
15.5.11.4. Recent Developments
15.5.12. Infosys
15.5.12.1. Company Overview
15.5.12.2. Product/Service Offerings
15.5.12.3. Financials
15.5.12.4. Recent Developments
15.5.13. Cisco
15.5.13.1. Company Overview
15.5.13.2. Product/Service Offerings
15.5.13.3. Financials
15.5.13.4. Recent Developments
15.5.14. Nxtra data
15.5.14.1. Company Overview
15.5.14.2. Product/Service Offerings
15.5.14.3. Financials
15.5.14.4. Recent Developments
15.5.15. McAfee
15.5.15.1. Company Overview
15.5.15.2. Product/Service Offerings
15.5.15.3. Financials
15.5.15.4. Recent Developments
15.5.16. Capgemini
15.5.16.1. Company Overview
15.5.16.2. Product/Service Offerings
15.5.16.3. Financials
15.5.16.4. Recent Developments
15.5.17. Cognizant
15.5.17.1. Company Overview
15.5.17.2. Product/Service Offerings
15.5.17.3. Financials
15.5.17.4. Recent Developments
15.5.18. Accenture
15.5.18.1. Company Overview
15.5.18.2. Product/Service Offerings
15.5.18.3. Financials
15.5.18.4. Recent Developments
Top 11 players account for more than 50% of the India market in 2021 and rest of the market share is contributed by the other players. RationalStat will provide a comprehensive list of over 100 managed security service providers in the final report.
16. Disclaimer
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Complete Table of Contents, List of Charts and Tables
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