Number of FASTag transactions between the financial years 2017-2021, based on volume (in
millions)

 

  

1400 1,327.26 500.0%
1200
400.0%
1000 2
, @
800 300.0% &
S
600 200.0%
3
400 7.8%
200 127.04 100.0%
23.65
0 —) 0.0%
FY17 FY18 FY19 FY20 FY21

tem Volume (In Million INR) ==Growth rate in Volume of FastTag Transactions

Source: India Payment Services Market Outlook to 2026, Ken Research, August 2021)

Number of FASTag transactions between the financial years 2017-2021, based on value (in fcrores)

 
   
 

25000 22,761.8 500%

20000 400%
oD

15000 11,294.49 300% 8

10000 200% &
oe

5000 58524 01.5% 100%

660.67 re
0 — 0%

 

FY17 FY18 FY19 FY20 FY21

lm Amount (INR Crore) —8=CAGR Amount

 

Source: India Payment Services Market Outlook to 2026, Ken Research, August 2021)

Indian Cloud Security Services Market

 

Particulars

Description

 

Market
Overview

Cloud security service providers (“CSPs”) provide human skills and technology for
businesses of any size to improve their security posture and address their day-to-day
technology needs. CSPs remotely manage computers, servers and networks, provide
proactive patch management and leverage technology to help an organization reallocate
resources to revenue-generating activities. CSPs help manage threats such as exploitation
and ransomware by deploying a comprehensive cybersecurity strategy that emphasizes
multiple layers of protection.

 

 

Emerging
Trends

 

Rapidly Rising Cyber-Attacks in India:

India witnessed a surge in cyber-attacks amid a rapid adoption of digital services across the
country following the lockdown imposed in the wake of COVID-19. The market also
witnessed a rise in the cyber-attacks against Indian vaccine makers and hospitals in October
and December 2020. With the rise of connected devices and efficient internet penetration
and widespread digitization of multiple sectors such as education, finance, healthcare, retail,
agriculture and logistics comes the threat of cyber-attacks, which not only cause monetary
losses but also compromise data privacy and put the economy and lives in danger. Post
COVID, digital transformation-related technology integration and architecture upgrades
have opened doors to a wide array of advanced cyber threats.

Technology Adoption among Consumers and Enterprises:

Unique technology trends among enterprises and consumers are driving cybersecurity and
the adoption of managed security services in India at present. Some of these trends are as

 

149

 
