Cyber security environment in India is fast changing due to growing realisation of threats of cyber-attacks and cyber-crimes. With new digital initiatives the focus on cyber security gained enormous attention and interest. The security companies are understanding the underneath need, focusing in security monitoring, identity governance and administration, mobile and cloud security governance, advanced threat defence, application security, security policy and product development. Although, security industry in India is at nascent stage, but have also shown a great potential in recent past. Number of companies in this space has increased substantially over the past few years. Some companies that started from incubation centres in academic institutions have been able to self-sustain in a very short span of time. Some of these have grown and reached out to different geographies with their products and have captured a significant market share.
The security product market in India is growing at a very rapid pace: companies are going against all odds in the ecosystem, and at the same time creating healthy ecosystem for the new start-ups to emerge and grow in the domain.
The emergence of cybersecurity startups has continued unabated as entrepreneurs vie for corporate customers seeking new technologies to battle ever increasing and innovative attackers.
The expertise of these new companies range from various improvements to encryption products to analyzing the wealth of security-incident data gathered from networks to gear that detects the potentially malicious wireless activity of Internet of Things devices.
But is expertise with a killer idea only success criteria? Number of these companies in this space has increased substantially over the past few years. Some companies that started from incubation centers in academic institutions have been able to self-sustain in a very short span of time. Some of these have grown and reached out to different geographies with their products and have captured a significant market share while others do not see the light of the day.
Various feature such as scalability of existing capabilities and the ability to diversify the array of solutions offered to the stakeholders holds the key to the survival and expansion of Security Product companies. Innovation to meet the market demand in efficient and effective manner is another critical factor to success of some of the organizations.
Curiosity raises a question that Why something works and other does not? What the key drivers and factors for success?
Budding entrepreneurs who are embarking on this journey may find the panel deliberation on these questions and valuable experience sharing, insightful and beneficial.
Discussion Points
Critical business systems and their associated technologies are typically held to performance benchmarks. In the security space, benchmarks of speed, capacity and accuracy are common for encryption, packet inspection, assessment, alerting and other critical protection technologies. Different models used by the security product companies are the capability of processing the number of events per second, storage and services offered to the customers for evaluation of the products and the measure to sell the different products available in the security market.
Changing models of products and service delivery in the security domain may contribute in success penetrating the market effectively.
