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Indian cybersecurity startups poised for strong growth amid rising global spend: Accel's Prayank Swaroop

Economic TimesEconomic Times · 6m
Indian cybersecurity startups poised for strong growth amid rising global spend: Accel's Prayank Swaroop

India's cybersecurity market has seen a growth of 25% annually since 2019, reaching over $6 billion in 2023. It is projected to continue expanding, with global spending estimated to touch $200 billion this year. Indian cybersecurity startups are expected to experience steady growth due to increased spending in the domestic market. Key highlights from the Accel Cybersecurity Summit 2024 indicate that Indian startups have the potential to make a global impact. Cyber attacks have risen by 71% YoY, making data security and privacy crucial concerns. The use of generative AI in cybersecurity is considered a gamechanger, enhancing operational efficiency and aiding in early vulnerability detection.

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