Asia-Pacific cyber security market to touch $48 bn by 2025, says expert

Rising cyber attacks and global protection efforts a $35 bn. opportunity in India

Published - November 24, 2019 04:05 pm IST - TIRUPATI

An industry-oriented workshop on ‘Cyber security technologies and applications’ organised at the Indian Institute of Information Technology (IIIT Sri City) gave a fresh outlook on the emerging opportunities in the sector as well as future global applications. The event was organised in association with Data Security Council of India (DSCI), a NASSCOM’s centre of excellence, with which the IIIT had recently signed an agreement for joint research.

In her keynote address, Hoda Al Khzaimi, Director, Centre of Cyber Security, New York University in Abu Dhabi, spoke on the security trends and the importance for hardware cryptography design and implementation cryptanalysis. “We have discussed new global initiatives on cryptographic designs and explored the lightweight and post quantum cryptographic primitives,” Dr. Hoda said, exploring both the challenges and opportunities in the field. As the students’ queries were focussed more on why such initiatives were important in the global context, she shared some of the best practices from the UAE, including technology and professional ecosystems.

1million professionals needed

Accenture Security’s Managing Director Muthu Raja Sankar said the cyber security market in Asia Pacific, which stood at $17 billion in 2015 was projected to touch $48 billion by 2025. “The increasing incidents of cyber attacks and protection efforts globally would create a $35 billion revenue opportunity in India. It is estimated that one million cyber professionals with diverse career opportunities are required globally,” he pointed out.

Infosys Vice-President and Head L.N. Kaliyaperumal spoke on the emergence of threat intelligence platforms to support vulnerability management. Attributing much of the security vulnerabilities to the use of gadgets in the connected world, he highlighted Security Orchestration Automation and Response (SOAR), which had the potential to ensure security in linked platforms.

Priya Madhavan, consultant, NASSCOM Futureskills (Cyber Security) detailed their efforts to create professionals through skilling and re-skilling measures in order to meet the growing demand.

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