New Delhi, Sep 10 (PTI) Cybersecurity solutions provider GajShield Infotech on Thursday said it expects to clock 60 per cent growth by end of 2021 in the Indian security firewall market with its new offering.
The company has launched its data security firewall solution that helps enterprises not only monitor the health of their data security systems but also map security violation criticality and provides a heatmap with threat patterns analysis.
It helps in the identification of policy violations and prevents data leak.
'Businesses all over the world are facing critical challenges with regards to data protection...Our Data Security Firewall offers advanced data protection with the help of Contextual Intelligence Engine, it understands the data and its criticality to the enterprise and prevent breach and leak of this critical piece of information,' GajShield Infotech CEO Sonit Jain said.
He added that given that many people are now working from home amid the pandemic, businesses are vulnerable to data breaches and cyber-attacks.
'GajShield works in a channel ecosystem and we have a strong presence with the community. The need for data security is at its peak and we have all the sectors who need such security. But we see majorly IT, medical, manufacturing and education as the most affected sectors of the recent increasing data threats, also being our focus,' he said.
Jain added that the size of the Indian cybersecurity market was around USD 1.97 billion in 2019 and is projected to reach USD 3.05 billion by 2022 at about an annual growth of 15.6 per cent.
'A major part of our revenue comes from the overseas market but we have seen a change in the revenue contribution due to the COVID pandemic, resulting in now India being the major portion. We have seen 30 per cent year-on-year growth in the last few consecutive years and are predicting to grow by 60 per cent by the end of 2021 in India in the firewall security market,' Jain said.
Established in 2002, GajShield has implemented its solutions at more than 10,000 locations globally. It has around 200 employees.
'Our presence in the overseas market apart from India is only growing stronger day by day. GajShield is present in the Middle East, Africa, Europe, South East Asia and many other countries through our partner ecosystem. We aim at further expanding our presence in these regions...we are further looking to expand our partner network overseas to help us achieve our goals,' Jain said. PTI SR SHW SHW