Image Credits: Reuters
A recent report has shed light on India’s cybersecurity landscape, revealing a concerning trend of local cyber threats targeting internet users. The report, which focused on threats found directly on users’ devices or removable media, placed India at the 80th position globally. This means that a significant portion of Indian internet users faced local threats in 2023, with nearly 34% encountering such malicious programs. These threats can take various forms, including malware hidden within complex installers or encrypted files.
Despite the prevalence of local threats, India’s cybersecurity market is booming, reaching a staggering USD 6.06 billion in 2023. However, experts warn that sophisticated external cyber threats pose a major challenge for businesses. In response, nearly two-thirds of Indian enterprises are planning to outsource key security tasks to managed security service providers in the next three years. Establishing and maintaining trust in the digital realm becomes increasingly difficult when sophisticated attacks threaten to breach data and disrupt operations.
Recognizing this challenge, a significant trend is emerging within Indian enterprises. Nearly two-thirds, or 67%, are considering outsourcing key security tasks to managed service providers (MSSPs) in the coming years. This shift signifies a growing understanding of the complexities involved in managing cybersecurity, and the potential benefits of leveraging specialized expertise. By partnering with MSSPs, organizations can gain access to advanced security solutions and skilled personnel, allowing them to focus on their core business functions with greater peace of mind.
Furthermore, the adoption of artificial intelligence (AI) and digital payments in India adds another layer of complexity to the cybersecurity landscape. As Jaydeep Singh, General Manager for South Asia at Kaspersky, aptly points out, “With the rise of AI use and the consistent digital payment adoption here, it has become imperative for organisations to continuously improve their cybersecurity posture to protect their assets and maintain stakeholder trust.” The integration of AI and digital payments necessitates robust security measures to safeguard sensitive data and prevent financial losses.
While the market is flourishing and awareness is increasing, the persistent threat of local and external cyber attacks necessitates continuous vigilance and improvement.
