State of Cybersecurity in India 2020

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The number of Internet users has hit a staggering high of 4.54 billion people the world over in January, 2020. India alone has 560 million users and is the second-largest Internet user base. The number is only expected to increase with most of the traffic coming from mobile data. Affordable smartphones, reasonable data plans, and easy access can be cited as the reasons for the Internet explosion. With all the ease and connectivity that tech brings us, it has its share of pitfalls. Cybersecurity and data privacy happen to be two of the most overlooked threats in the country. 

In most cases, people are simply not aware of the dangers that they might be putting themselves in when they are using the Internet. The consequences of a lack of knowledge and slack rules have finally made the authorities and citizens alike sit up and take notice of the threat lying right under their noses. India has faced the second-highest number of cyberattacks between 2016-2018. The state of cybersecurity in India is one that needs constant vigilance. The skill-gap in the Cybersecurity domain is another impediment to ensuring that cyberspace is safe for all. 59% of the organizations have vacant cybersecurity positions with 3.5 million new vacancies being created by 2021. This shortage of skilled professionals ensures that the pay package is good. In fact, the salary is two to ten times the average salary of an IT engineer. 

The State of Cybersecurity in India 2020 report by Jigsaw Academy and AIM is here to give a more detailed overview of the state of cybersecurity in the near future. 

Highlights of the report

  • Digital economy contributes approximately 15% to the country’s GDP
  • The evolving nature of cyber threats poses a challenge to the government and organizations
  • Digital payments in India are growing at a rate of 13% CAGR (Compound Annual Growth Rate)
  • E-commerce is expected to grow into a $25 billion industry by 2024
  • With the increasing use of tech like Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), Cloud Computing, and data analytics across various industries, Cybersecurity has become a necessity and a challenge. 
  • With the Indian Cybersecurity industry valued at $6.7 billion, the job prospects are favorable for skilled professionals.
  • Delhi NCR and Bangalore, the biggest IT hubs, lead the race with the majority of cybersecurity professionals.
  • After the IT sector and niche networking and consulting sectors, the banking and financial sector offers the largest openings for cybersecurity professionals. 

India has reached a milestone in terms of digital advancement. The unprecedented growth in technology calls for better measures to ensure that it remains safe and secure. Cybersecurity is a growing domain and India needs to expand its efforts to increase its revenue and stay on top of its game. Efforts to bridge the demand-supply gap will go a long way in ensuring this outcome. Greater support from governments to the cybersecurity start-ups will aid the rise and awareness to be ‘cyber-smart’. 

Here’s the complete report by Jigsaw Academy and Analytics India Magazine (AIM)!

State Of Cybersecurity In India 2020