India Antivirus Software Market to grow at CGR of 13.4%: 6Wresearch

6Wresearch has recently published a new report titled "India Antivirus Software Market (2018-2024)", which provides in-depth analysis with 55 figures covered in more than 135 pages, estimating and forecasting the overall India antivirus market by revenue, end-users, product-types, applications, regions, sales channel, and categorization based on Tier cities. The report also offers key insights on competitive landscape, market share by companies, market trends, market drivers & restraints, and recommendations.

According to 6Wresearch, India antivirus software market is forecast to grow at a CAGR of 13.4% during 2018-24. With the wave of IoT and Digitization approaching the Indian subcontinent, antivirus software market is expected to follow an upward trend in the near future. Sales of personal computing and mobile devices are expected to surge and investment to boost the digital infrastructure of the country. The Ministry of Electronics and Information Technology (MeitY) mandates all other ministries to earmark 10% of their IT budgets for security spending.

According to Prijo Samuel, Assistant Research Manager – IT & Electronics, Research and Consulting, 6Wresearch, "Over 60% of the cyber-attacks have been targeted towards enterprise segment during 2016-17. Enterprise segment has always remained a goldmine for antivirus vendors in the Indian market capturing the largest share of market pie. The segment is exhibiting a shift in purchase from standalone antivirus product towards complete security solutions. BFSI and IT & ITeS verticals were the key adoptees of antivirus software solutions in the Indian market."

Rishi Malhotra, Senior Research Analyst – IT & Electronics, Research and Consulting, 6Wresearch, says, "Mobile segment is still at the nascent stage of the industry curve. However, the segment is anticipated to clock the highest growth among the other product types. With the advent of IoT, smartphones are expected to account for over 35% of all networked devices by 2020. Moreover, online sales for mobile antivirus software is on the rise with higher preference exhibited towards the purchase of single user multi-device software solutions. Moreover, tier-II cities are emerging as the hotspot for start-ups, IT Hubs and BPOs. Government initiatives are leading to increased ICT adoption in these cities, making them as a preferred destination for PC and smartphone vendors. Demand for antivirus software is projected higher among these cities as they emerge as breeding grounds for tech start-ups and IT hubs."