Cyber security comprises of defending both hardware and software of the electronic systems such as mobiles, computers, servers, networks, etc. from cyber threats. This also includes e-mail and social media accounts owned by individuals, businesses, or organizations.
With an increase in dependency on IT, protecting one’s data and privacy has become very crucial. There are many hackers employing malware and spyware to gain unauthorized access to personal information. At times, not only do they steal vital material but, also install a virus that deletes all your data and hard work.
Unfortunately, there are big gaps in the current skill levels and it can be termed as a huge crisis. Not only are there very few qualified personnel working against these cyber threats but, their knowledge levels are also required to be constantly upgraded.
The Cyber security Market is growing exponentially both in India and across the globe. Currently, the demand for skilled professionals is more than the supply and this trend is expected to continue and rise. The present and future scope of their responsibilities include areas viz. Network Security, Cloud Security, Endpoint Security, Data Loss Prevention, Risk & Compliance Management, Encryption and Decryption, Firewall, Antivirus, and Malware, etc.
In India, in 2019, this market was worth 3.97 billion USD. It is estimated to grow at a CAGR of 21%. According to The National Association of Software and Service Companies and Data Security Council of India, (NASSCOM-DSCI), it is estimated to touch 13.6 billion USD by 2025.
Globally, the figures are much higher. According to the Data Security Council of India (DSCI), the current size of the global Cyber Security industry is estimated to be 80 Billion USD and is projected to grow to 190 billion USD by 2025.