A global lack of cybersecurity personnel may prove to be a windfall for smaller enterprises situated in emerging economies such as India and the Philippines.
Because of a scarcity of cybersecurity specialists at a time when cyber threats have increased in tandem with the country’s fast digitization, businesses in India have found themselves in a Catch-22 scenario since the coronavirus pandemic began.
According to industry analysts, this might result in increased business for small and medium-sized businesses.
As Prateek Bhajanka, a senior principal research analyst at research firm Gartner Inc., points out, the scarcity of cybersecurity personnel is a recurring problem in India and around the world.
Because mid-sized and small businesses do not have dedicated cybersecurity teams and executives, they are more likely to engage with security services or security consulting firms to improve their security posture, according to Mr. Henson.
According to him, “These firms would also consider adopting the service model rather than purchasing a security solution and administering it themselves.”
According to him, “capabilities like as vulnerability management, detection and response, and security operations centers are routinely consumed through service models provided by security services providers.”
The security firm Sophos published a research on 14 March stating that in 2021, 60 percent of mid-sized enterprises in India will be victims of cyberattacks, according to the report.
Furthermore, smaller firms in India are finding it difficult to keep up with the slew of cyberattacks that have been launched.
Companies with 1,000 to 2,000 employees were found to have been hacked in 19 percent of cases within two weeks after the penetration, and 22 percent of cases required three to four weeks to discover they had been penetrated.
Issues such as these provide even more justification for smaller businesses in India to seek the assistance of cybersecurity services. Global interest in Safe Security, according to Saket Modi, co-founder and chief executive officer of indigenous security firm Safe Security, is increasing among small and medium enterprises (SMBs) and startups.
He claimed that the company’s most recent quarter was the best in the company’s history, and that Safe Security had experienced year-on-year growth of 300 percent.
In addition, the firm collaborates with larger corporations.
Instasafe Technologies and TAC Security, two security companies, are reporting results that are identical.
Instasafe claims to serve major companies and small and medium-sized businesses (SMBs) in a 60:40 ratio, whereas TAC claims to have expanded by more than 300 percent in the previous two years and to serve tier-2 and tier-3 cities, as well as state agencies and eGov programs.
Sandip Kumar Panda, co-founder and CEO of Instasafe, stated that the pandemic has increased the need for secure remote access solutions. “We were able to assist our current clients with their unexpected rise requirement of remote access products,” he said.
Although some experts believe that automation might be a solution, it is important to note that employing security organizations and employees is not always the most effective approach.
As Sunil Sharma, managing director of sales for Sophos in India and the South Asian region, pointed out, enterprises could automate certain tasks by utilizing sophisticated security tools that are powered by artificial intelligence (AI), which could help reduce the workload on in-house teams in the process.
According to Ravisha Chugh, principal analyst at Garner, firms such as tech-driven startups, who have the majority of their infrastructure in the cloud, may save costs by consolidating security suppliers and purchasing solutions from a single vendor that meet several requirements.