Indian Network Security market valued at $29.9 mn

Circuit EC / Bangalore

The Indian network security market, which primarily consists of three technologies namely integrated security, intrusion detection systems and SSL VPNs, is valued at $29.9 million in 2003 according to Frost and Sullivan. The research agency organised a one-day seminar in Bangalore on 'Emerging Para-digms in Information Security' which aimed at highlighting the contemporary trends in network security with a special focus on India. The seminar had participants from organisations such as Cisco Systems, Symantec, Internet Security Systems, IBM, Microsoft, HCL Comnet and the Mahindra British Telecom.

Frost and Sullivan mentioned that 62 percent of network security revenues come from the IT, ITeS and BFSI sectors. Aditya Sapru, partner and director, India Operations, Frost and Sullivan during his presentation on key insights into the Indian Network Security market underlined that the overall network security market in India is expected to grow at a CAGR of 25 percent till 2010. Sapru said that the BFSI vertical in India would fuel growth of firewall and the VPN market, which are likely to record a CAGR of 24.2 percent. He added that the Indian SMB segment would contribute handsomely to the growth of the overall network security market. Currently the SMB segment is growing at a CAGR of 35 percent. It is believed that SMB spends are taking place in security infrastructure such as firewall and VPN solutions.