IT industry body Nasscom says that the rising threat of cyber attacks all over the world will result in a $35 billion revenue opportunity for security professionals in India. Not just that, it’ll also create 1 million job opportunities in the country by 2025.
These estimations come from Nasscom Chair Cyber Security Task Force Rajendra Pawar. According to him, the cybersecurity sector in India currently commands about $2.5 to $3 billion or roughly 2% of the $150 billion local IT segment. Crunching some numbers, Pawar believes that the latter will rocket to $350 billion by 2025 and 10% of this will be devoted to security threats.
Pawar went on to emphasize the importance of startups in the future. He thinks approximately 1000 new ones will pop up in the cybersecurity field. He believes this will come to pass since smaller firms are light footed and are up-to-date when it comes to technology.
Furthermore, he thinks there has been a steep growth in investor interest in the sector as businesses are looking to stay secure in the face of increasing attacks. Nasscom had previously started a task force to make sure India was positioned as a global hub for supplying cyber security solutions and developing a skilled pool of security experts.
As per PTI, Nasscom has joined hands with the Data Security Council of India (DSCI) and security firm Symantec to launch the National Occupational Standards for 10 cyber security job roles. The initiative’s goal is to create a pool of certified cyber defense professionals in the nation.