The Hindu : Business : Electronic security, a growing market

Online edition of India's National Newspaper
Sunday, Oct 17, 2004

Business

Business

Electronic security, a growing market

By Our Staff Reporter

BANGALORE, OCT. 16. From protecting personal information of an individual bank customer to preventing hacking into databases of military establishments, software that could help prevent hi-technology crime was a growing market, which Indian firms must tap, said B. V. Naidu, Director of the Software Technology Parks of India, Bangalore, on Tuesday.

In India, the e-security market was estimated at Rs. 350 crores, growing at the rate of 50 per cent.

Information security and services companies were moving up, to focus on security consultancy, managed services, training and patch management. So e-security management services, Mr. Naidu said was a significant business opportunity, at a conference on `e-security and business process continuity' organised by the Manufacturers' Association for IT (MAIT), a hardware industry lobby.

The conference was aimed at corporate enterprises keen on preventing theft of proprietary information. `Business continuity planning' and `disaster recovery planning' had become fundamental to the survival of firms, a MAIT backgrounder said. As corporate businesses matured to the next level of technology adoption, on the Internet, data protection became all important, the release said.

Internet was now used for data transmission related to business, education and government information, among other things.

The conference drew participants from sectors such as banking, finance and insurance, IT and telecom, IT enabled services and business process outsourcing, manufacturing and e-governance.

The global market, for ways of ensuring e-security, included biometrics, embedded security, cryptography, smart cards and access controls. It is estimated that the market would be some $14.5 billion in size by 2005, due to substantial IT security investments by many firms. `Firewalls,' software programmes that prevented unauthorised access to databases, and `virtual private networks,' were among the fastest growing segments in the e-security market.

They were estimated to account for half the entire e-security market in 2005. Market research firm IDC estimated that the `security server appliance' segment in 2003 was about $1.5 billion and growing.

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