Indian Cybersecurity Industry Zooms at $9.8 Billion

According to a Nasscom-Data Security Council of India (DSCI) report, the cybersecurity services and product industry in India reached $9.85 billion in combined revenue this year, growing at a compound annual growth rate (CAGR) of 40 percent in the last two years as companies scrambled to meet the huge demand for cybersecurity talent amid the pandemic.

Currently, cybersecurity services companies employ 2.18 lakh individuals in the country, while product companies employ 27,000 strong workforces.

The Indian cybersecurity industry is also steadily growing, with a presence in the United States, Canada, the United Kingdom, France, Australia, Singapore, and the United Arab Emirates.

According to the report, the cyber-security services industry grew from $4.3 billion in 2019 to $8.48 billion in 2021 at a CAGR of 40.33 percent. On the other hand, the product industry grew from $740 million in 2019 to reach $1.37 billion in 2021, at a CAGR of 36.49 percent.