The Cybersecurity Market
Technology advancements have enabled businesses and individuals to connect freely. However, with this freedom, there comes a set of vulnerabilities.
In India alone, experts predict a high demand for cyber security post the pandemic. Research has highlighted that the Indian cyber security services industry will hit $13.6billionby 2025. On a global scale, the cyber security market size is projected to reach $281.74billion by 2027.
Increased usage of personal devices, cloud facilities, and excessive amounts of data in companies are a leading cause of data breaches. According to Verified Market Research, the Global Data Protection Market was valued at USD 77.31 Million in 2019 and is projected to reach USD 257.52 Million by 2027.
So, why do businesses need data protection and cyber security solutions in place?
- To win customers and retain customer loyalty
64% of consumers say they are unlikely to do business with a company where their financial or sensitive data was stolen. –Thales
Research proves that having a security plan is essential for acquiring new customers, and retaining existing customers.
- Security facilitates business productivity
A successful cyber-attack can result in lack of access to systems for both employees and customers, ultimately disrupting business productivity. 40% ranked disruption of operations or manufacturing as the biggest potential consequence of a cyber-attack. According to Gartner, the average cost of IT downtime is $5,600 per minute. All that adds up to about 6.2 hours per day, or 31 hours per week lost to interruptions.
Businesses that invest in cyber resilience are able to sustain performance and operations. By adding cyber security and data protection solutions into your business set up, the business gains a competitive edge over businesses that are unprepared.
- Business agility
Technology has created a competitive environment which businesses need to adapt to in order to be agile. However, digital transformation requires strong data protection and cyber security structures in place. Businesses that do not adapt to new digital innovations are left behind in the competition.
- Boost Brand reputation
Many times it’s assumed that a data breach will result in financial and reputational loss, followed by loss of clients or difficulty in acquiring new business. But if a business is able to handle a data breach well, with informed employees, data recovery plan and rapid action plan can actually create a good reputation among their employees, clients, investors and so on.
- Save cost
The damages that follow a cyber-related incident can be expensive and detrimental for business. The average cost of a data breach for an Indian company reached Rs 14 crore in 2020, an increase of 9.4 per cent from last year – IBM. Rs 5,522 for a single lost or stolen record (an increase of 10 per cent from 2019), a new IBM study revealed. A data breach can cause financial and reputational loss, followed by loss of clients, law suits, Intellectual property (IP) cyber theft, regulatory fines and many more costs associated with a data breach.
Cybersecurity products and services – What is expected?
In India alone, growth expected in the cyber security products market, data protection and endpoint security will see relatively higher growth. The security implementation service market which helps in drawing up effective cyber security strategies is estimated to increase from USD 221 in 2019 to USD 320 million by 2022.
How can Siccura help businesses to be better at what it does, innovate faster and have a competitive edge in the market?
Siccura is a comprehensive data protection solution which secures business data from the moment it is created and help business educate their workforce on cyber security awareness making them the 1st line defence against cyber threats.
Siccura Data protection Services: It provides data protection services that help businesses avoid commercial and reputational harm that occurs from cyber-attacks like Ransomware.
Siccura encrypts all data types from the moment it is created, stored or shared. Data become meaningless unless accessed via Siccura. If data is stolen, it would be meaningless to attacker.
With Siccura, businesses can automatically backup data on Siccura cloud so in event of cyber-attack- copies will be secured and accessible securely from Siccura.
Siccura Cybershield – Cybersecurity Training Awareness Program
Reduce the risk of human errors by having the right cyber security awareness training in place.
Even with a robust data protection solution in place, cybercriminals can still try to pass them and operate inside your business networks. It only takes one simple mistake to occur for a cyberattack to be sucessful. Those simple mistakes are often created by people. To get your business ready, and your employees trained to face cyberattacks, it’s important to adopt cybersecurity awareness training programmes.
Siccura Cybershield is a cybersecurity awareness training program developed to help businesses instill a positive cybersecurity minded culture. The interactive training programme contains over 200 training modules to test and train employees into becoming your strongest defence. Our program will test, make aware and engage employees into become front line defenders against any type of cyberattack.
Siccura Cybershield turns the workforce into a human cybershield.
Siccura Partner Program: Join the fastest growing industry by signing up as a Siccura Partner.
The Siccura Partner program is an opportunity for you to really get involved into a billion dollar business. Whether you have your own business, or dream of starting your own business – this is the opportunity for you.
As a Partner, you’ll have access to a wide range of data protection and cybersecurity training solutions that suit all types of customers. From businesses, families to individuals, the Siccura product range is perfect for all.
When you sign up as a Partner, you’ll receive the following benefits:
- Lifetime revenue based on the sales you make (including everytime your customers renew their subscriptions)
- Expand your business by targetting new customers that you would never have thought about.
- Be able to support your existing customers with additional products to support their digital privacy
- Access to an online library of training and support materials
With comprehensive product trainings, we assure full support from our team. We’ll arm you with all materials and tools needed for success.