Karmesh Gupta completed his certification in ethical hacking and joined Lucideus Technology as an analyst. After this stint, he served as COO at Decent Solutions, Gwalior. He then co-founded his startup – Http Cart Technologies (Leading IT Product Company) in October 2014 along with his cousin Praveen Gupta. In April 2015, Http Cart became the first-ever Indian private company to launch Completely Free WiFi – “WiJungle”. He started an entrepreneurial journey at the age of 17. Forbes selected Karmesh Gupta in the 30 Under 30 Asia 2020 List.Mr. Karmesh has also served as the creative lead on Google Core Committee.
The statistics show that in 2021, there was a 151 percent increase in cybercrime, with each firm seeing an average of 270 cyberattacks. A spate of Indian entrepreneurs are innovating and advancing the international cybersecurity arena in an effort to realize the communal ideal of cyber resilience. Since 2020, there have been 225 Indian cybersecurity firms, up from 175 in 2018 and bringing in double that much in revenue. The global wave of cyberattacks has allowed “Make in India” firms to take advantage of untapped markets and experience unprecedented growth.
The Covid-19 epidemic has sped up digital change globally to previously unheard-of levels. The pandemic has altered how people interact and conduct business, increasing our reliance on mobile phones, computers, and other technology. As a result, people, organizations, and even governments are producing more data than usual and becoming more vulnerable than ever. Cyberattacks have increased since the digital boom and now constitute a severe threat from ransomware, malware, and other security flaws.
The security technology stack should be reevaluated
As businesses migrate to the cloud, the security perimeter must be expanded to include businesses of all sizes under its purview. The demand for cutting-edge cybersecurity solutions is greater than ever, with small and medium-sized organisations being the target of roughly 50% of assaults. Conventional cybersecurity safeguards are getting progressively less effective and relevant as our digital footprint grows. Cyberattacks have become more sophisticated, which has revealed technological and talent gaps.
‘Make in India’ entrepreneurs are expanding their role by redefining security policies and modernising their security technology stacks in order to meet these new risks and be ready for future threats. Indian cybersecurity firms are developing adaptable security solutions that secure outside the conventional security perimeter and offer an overall view of the company in order to accommodate a variety of technologies as well as the workforce in various regions.
Cybersecurity product innovations
The development of cyberattacks’ size, sophistication, complexity, and variety has increased the need for next-generation cybersecurity technologies and highlighted the value of company resilience. Indian startups are assuming leadership in cyber resilience and emerging as a dependable and clear option for supplying cutting-edge cybersecurity products globally. Indian startups are developing new and extremely advanced cybersecurity technologies, ranging from safeguarding the entire network through a single window to offering AI-based vulnerability management systems. By instantaneously detecting, mitigating, and removing cyberthreats, these end-to-end cybersecurity solutions minimise security gaps and strengthen organisational cybersecurity.
Mapping out Global Growth
Even though established in India, the purview and potential of these startups are not limited to the national territory. Ripe for disruption, the global cybersecurity space is witnessing the growth potential of Indian startups providing next-gen cybersecurity products. According to the Data Security Council of India (DSCI), 24% of Make in India cybersecurity startups have expanded globally and established an imminent presence in international markets across the United States, Australia, Singapore and Netherlands.
Interestingly, around 84% of the products offered by Indian startups are software-based, while 78% are provided with subscription-based licensing models to make adoption easier. Keeping up with the global transition to the cloud, 78% of the products built by Indian cybersecurity startups are designed for the cloud, and 63% of the organisations are using AI or one of its branches to strengthen their performance. With the global cyber security market expected to reach $ 376.32 billion by 2029, Indian startups will play a big role in propelling the industry forward.
The Future Route
The market opportunity in the global cybersecurity space is bigger than ever before. If ‘Make in India’ startups can tap the untapped potential of the global cybersecurity industry, there will be no stopping them. Underpinned by the government, driven by innovation and catalyzed by challenges, Indian cybersecurity startups are poised for scale-up and world domination. With continued growth and expansion, Indian startups are paving the road for India to become a global cybersecurity hub in the coming years.