The Latest Cybersecurity In The India Industry Statistics Explained
As of 2021, the cybersecurity market in India is expected to grow from 1.97 billion U.S. dollars in 2019 to 3.05 billion in 2022.
The statistic indicates that the cybersecurity market in India is projected to experience significant growth over a three-year period, from 2019 to 2022. Specifically, the market size is expected to increase from 1.97 billion U.S. dollars in 2019 to 3.05 billion U.S. dollars in 2022. This growth trajectory suggests a compound annual growth rate (CAGR) in cybersecurity spending in India during this period. The increase in market size reflects a growing awareness and prioritization of cybersecurity measures by Indian organizations and businesses, likely driven by the escalating cybersecurity threats and the need to protect sensitive data and information. The statistic underscores the importance of investing in cybersecurity measures to safeguard against potential cyber threats and vulnerabilities in an increasingly digital and interconnected world.
Only 59% of firms in India have well-defined and robust security strategies.
The statistic “Only 59% of firms in India have well-defined and robust security strategies” indicates that a significant portion of businesses in India may not have comprehensive plans in place to protect their data and assets from potential security threats. This suggests that a notable proportion of firms could be vulnerable to cyber attacks, data breaches, and other security risks due to the absence of strong security measures. It underscores the importance of prioritizing cybersecurity efforts to safeguard sensitive information and maintain the trust of customers and stakeholders in an increasingly digital and connected world.
Around 76% of companies in India experienced an increase in cyber threats since remote work was imposed.
The statistic that around 76% of companies in India experienced an increase in cyber threats since remote work was imposed highlights a concerning trend regarding the cybersecurity landscape in the country. The shift to remote work necessitated by the COVID-19 pandemic has created vulnerabilities in organizations’ digital infrastructure, making them more susceptible to cyber attacks. This statistic underscores the urgent need for companies to bolster their cybersecurity measures and invest in robust technologies and training to safeguard their systems and data from potential threats. It also emphasizes the importance of addressing the evolving nature of cyber threats in the context of a remote work environment to ensure the continued protection of sensitive information and business operations.
DDoS attacks constitute 24% of all cyber attacks in India in 2020.
The statistic “DDoS attacks constitute 24% of all cyber attacks in India in 2020” indicates that Distributed Denial of Service (DDoS) attacks accounted for nearly a quarter of all cyber attacks experienced in India during the year 2020. This suggests that DDoS attacks were a significant threat to cybersecurity in India, potentially causing disruption and damage to businesses, organizations, and individuals. The high prevalence of DDoS attacks emphasizes the importance of implementing robust cybersecurity measures to prevent, detect, and mitigate such attacks to safeguard data and network integrity.
Cyber attackers demanded an average ransom of ₹35 crores in 2020 from Indian businesses.
The statistic indicates that in 2020, cyber attackers targeted Indian businesses with ransom demands averaging around ₹35 crores. This highlights a concerning trend in the increasing sophistication and financial impact of cyber attacks on businesses in India. The substantial amount of ransom demanded indicates the potential financial losses and disruptions that organizations faced as a result of cyber threats. This statistic emphasizes the importance of strengthening cybersecurity measures and preparedness to protect businesses from such attacks and mitigate the risks associated with ransom demands.
In 2021, 89% of organizations in India experienced at least one DNS (Domain Name System) cyber attack to date.
The statistic “In 2021, 89% of organizations in India experienced at least one DNS (Domain Name System) cyber attack to date” suggests that a vast majority of organizations in India have been targeted by cyber attacks specifically aimed at their DNS infrastructure. DNS attacks can disrupt normal network operations, compromise data security, and potentially lead to significant financial and reputational damage. The high prevalence of these attacks highlights the importance of robust cybersecurity measures for organizations in India to safeguard their online presence and mitigate the risks associated with cyber threats.
The number of Internet users in India is expected to reach 666.4 million by 2023 which increases the gravity of cyber threats.
The statistic indicates that there is a significant increase projected in the number of Internet users in India, reaching 666.4 million by 2023. This growth implies a booming digital landscape in the country, facilitated by technological advancements and increasing connectivity. However, this rise in Internet users also amplifies the gravity of cyber threats, as a larger online population provides a bigger target for malicious actors seeking to exploit vulnerabilities for various nefarious purposes, such as data breaches, cyber attacks, and online scams. Therefore, it underscores the importance of prioritizing cybersecurity measures to safeguard individuals, organizations, and the nation’s digital infrastructure from potential cyber risks and threats in the ever-evolving digital world.
70 -75% of industry professionals are not prepared for cyber threats due to a lack of training and resources.
The statistic implies that a significant proportion, specifically 70-75%, of professionals within the industry are inadequately equipped to address cyber threats due to a deficit in training and resources. This suggests that a large portion of industry professionals may lack the necessary knowledge, skills, and support systems to effectively mitigate and respond to cyber threats. Without proper training and resources, these professionals may struggle to identify potential threats, implement preventive measures, and address security incidents, potentially leaving their organizations vulnerable to cyber attacks. Addressing this gap in preparedness through increased training initiatives and resource allocation could help bolster the industry’s overall cybersecurity posture and better protect against potential threats.
In 2020, India encountered the 2nd highest cyberattacks in the world.
The statistic indicates that in the year 2020, India experienced the second highest number of cyberattacks globally, reflecting a significant threat to the country’s cybersecurity infrastructure. The ranking suggests that India’s digital assets, including government, businesses, and individuals, were targeted by malicious actors seeking to breach networks, steal sensitive data, disrupt services, or carry out other cybercrimes. This statistic underscores the importance of strengthening cybersecurity measures, increasing awareness about online threats, and investing in technologies and practices to mitigate risks and protect against future cyberattacks in India. Additionally, it highlights the need for continuous monitoring, prompt response to incidents, and international collaboration to address the evolving landscape of cyber threats effectively.
In 2018, cyber attacks cost Indian companies an average of 12.8 million USD.
The statistic states that in 2018, Indian companies incurred an average cost of 12.8 million USD due to cyber attacks. This information provides insight into the financial implications of cybersecurity breaches on businesses operating in India. The average cost of 12.8 million USD reflects the considerable economic impact cyber attacks can have, emphasizing the importance of investing in robust cybersecurity measures to mitigate risks and protect sensitive information. Such statistics also serve as a stark reminder of the evolving nature of cyber threats and the need for organizations to prioritize cybersecurity preparedness to safeguard their operations and financial resources effectively.
India ranked 3rd in the list of countries where the most threats were detected in 2020.
In 2020, India was ranked as the third highest in terms of the number of threats detected among countries worldwide. This statistic indicates that India experienced a significant level of security challenges and cybersecurity incidents throughout the year, potentially posing risks to individuals, organizations, and the country’s overall digital infrastructure. The high ranking suggests a need for increased vigilance, improved cybersecurity measures, and heightened awareness to mitigate and respond effectively to these threats in order to safeguard data, privacy, and digital assets within the country.
The cybersecurity skills shortage in India exceeds 1 million in 2021.
The statistic indicating that the cybersecurity skills shortage in India exceeds 1 million in 2021 reflects a significant gap in the availability of qualified professionals to meet the increasing demand for cybersecurity expertise in the country. This shortage poses a critical challenge for organizations and government agencies in effectively securing their systems and data against cyber threats. The magnitude of the shortage highlights the urgent need for strategic investments in cybersecurity education and training programs to bridge this gap and strengthen India’s cybersecurity defenses in the face of evolving cyber threats.
Hiring for cybersecurity roles in India grew by 6% in 2020 compared to the previous year.
The statistic indicates that there was a noticeable increase in the demand for cybersecurity professionals in India in 2020 compared to the previous year. A growth rate of 6% suggests that more organizations in India recognized the importance of cybersecurity and were actively seeking individuals with expertise in this field to protect their digital assets from cyber threats. This data highlights a shift towards prioritizing cybersecurity measures and investing in talent with specialized skills to safeguard against emerging cyber risks and threats. The rise in hiring for cybersecurity roles points to a growing awareness of the importance of digital security in the evolving landscape of technology and business operations in India.
The number of exposed records due to cyber breaches in India exceeded 37 billion records in 2020.
The statistic indicates that in 2020, the total number of records compromised as a result of cyber breaches in India surpassed 37 billion. This figure points to a significant data security concern within the country, highlighting the prevalence and impact of cyber attacks on organizations and individuals. The large number of exposed records underscores the importance of enhancing cybersecurity measures at various levels, including governments, businesses, and individuals, to safeguard sensitive information and mitigate the risks associated with data breaches. It also serves as a stark reminder of the evolving threat landscape in the digital age, emphasizing the critical need for continuous vigilance and proactive measures to protect against cyber threats.
India is the second most targeted nation for cybercrime through social media.
The statistic stating that India is the second most targeted nation for cybercrime through social media indicates that individuals, businesses, and organizations in India are facing a substantial risk of falling victim to cybercrimes such as phishing, fraudulent schemes, hacking, and online scams carried out through social media platforms. This statistic highlights the prevalence and sophistication of cybercriminal activities in India, underscoring the importance of robust cybersecurity measures, user education, and law enforcement efforts to mitigate the risks and protect against cyber threats targeting individuals and entities operating in the digital space.
Only 24% of organizations in India have a dedicated cybersecurity insurance policy.
The statistic “Only 24% of organizations in India have a dedicated cybersecurity insurance policy” indicates that a relatively low percentage of businesses in India have taken proactive steps to protect themselves financially in the event of a cybersecurity breach. This implies that a significant majority of organizations in India are exposed to potential financial risks associated with cyber incidents, such as data breaches, ransomware attacks, or other digital threats. By not having cybersecurity insurance, these organizations may face significant financial losses and operational disruptions if they fall victim to a cyberattack. This statistic underscores the importance for Indian businesses to assess their cybersecurity risk management strategies and consider investing in cybersecurity insurance as part of their overall risk mitigation efforts.
67% of organizations in India have experienced an increase in ransomware attacks during the Covid-19 pandemic.
The statistic states that 67% of organizations in India have seen a rise in ransomware attacks amidst the Covid-19 pandemic. This highlights a concerning trend within the Indian business landscape, where a majority of organizations have faced an increase in cyber threats during the global health crisis. The prevalence of remote work and heightened reliance on digital technologies due to the pandemic may have created vulnerabilities that cyber attackers are exploiting. This statistic underscores the importance of prioritizing cybersecurity measures and awareness to safeguard businesses from potentially devastating ransomware attacks in the current pandemic environment.
The human factor accounted for 85% of all breaches in India in 2020.
The statistic “The human factor accounted for 85% of all breaches in India in 2020” suggests that a large majority of cybersecurity breaches in India during the year were caused by human errors or actions. This indicates that most security incidents were not primarily the result of vulnerabilities in technology systems, but rather mistakes made by people within organizations, such as clicking on malicious links, falling for phishing scams, weak password management, or improper handling of sensitive data. This underscores the importance of educating and training individuals in organizations on cybersecurity best practices and implementing stringent security measures to mitigate the impact of human errors on data breaches and cyberattacks.
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