97% Of Indian Companies Investing In AI/ML
A report by the Data Security Council of India (DSCI) has revealed that 97% of Indian organizations have invested in AI/ML technologies, while 84% have invested in cloud technology. The cybersecurity market in India reached $6 billion in 2023, growing at a CAGR of over 30% during 2019–23. The cybersecurity products segment grew by more than 3.5 times to reach $3.7 billion in 2023 from $1 billion in 2019. The survey also estimated India’s cybersecurity market to account for 5% of the global market by 2028.
The Indian cybersecurity industry has been at the forefront, supporting the government and other critical sectors, facilitating the adoption of emerging technologies, and mitigating evolving cybersecurity risks.
The report also highlights the use of emails as the most critical tool for cyberattacks, followed by phishing.The cybersecurity talent shortage has become a significant concern for end-user organizations and security companies in India. 75% of respondents highlighted the shortage of skilled professionals as a significant concern, while 47% reported that cybersecurity professionals make up less than 5% of the total workforce. The Banking, Financial Services, and Insurance (BFSI) and IT/Information Technology Enabled Services (ITeS) sectors were reported as the leading spenders on cybersecurity in India.
(With inputs from Shikha Singh)
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