In today’s rapidly evolving digital landscape, cybersecurity stands as a paramount concern for individuals, organizations, and nations alike. As the digital realm expands, the demand for skilled cybersecurity professionals is on an upward trajectory. Entering a new market can be a daunting task, but businesses need to grow eventually.

This case study delves into the intricacies of the Indian Cybersecurity Training Market, with a laser focus on an international EduTech client’s journey to establish a foothold in this burgeoning sector. The study aimed to identify and evaluate the industry market size, competitive landscape, and key trends and provided valuable insights to the client which acted as the base to strategize further.

The primary objectives of the study were to support the client in:

  • Determining industry market size, opportunities, and threats to develop future strategies that minimize risks while maximizing chances of success.
  • Identifying major competitors while evaluating their strengths, weaknesses, and opportunities to understand the country’s ecosystem.
  • Identifying competitive prices that maximize profitability and customer satisfaction by considering competitor pricing and market demand.
  • Conducting a geographical TAM analysis of the Indian Cybersecurity Training Ecosystem followed by a detailed Go-to-market Strategy and Consulting.
  • Evaluating growth potential, and customer demand to identify attractive market segments for entry or expansion in the Indian market.

A favorable demographic dividend and an increasing literacy rate have accelerated the adoption of digital lifestyle and data consumption. Newer business models and delivery channels have gained a wider audience and acceptance—propelled by both public and private sectors. For instance, various citizen services have been digitized by national and state-level e-governance initiatives.

These, in turn, have resulted in an expansion of cyberattack surface and the need for introducing defense mechanisms at multiple touchpoints, including networks, endpoints, applications, cloud, bots, and Internet of Things (IoT) environments. Our client here was an international cybersecurity content provider based out of Israel, who aimed to associate with multiple training institutes and provide cybersecurity educational content across India.

In support of the client in understanding the current Cybersecurity Training Ecosystem across India, we have adopted a multi-phased approach that includes extensive secondary and primary market research. This has been used to gather the necessary information, conduct a thorough analysis, and formulate the desired report.

The phases helped the client comprehend the skew in the market’s supply and demand, market positioning through their associates and target audience, market strategy, consumer behavior, and market advocacy for these kinds of technical educational courses.

Key Takeaways

The global cybersecurity training market is expected to grow from $10.11 billion in 2019 to $18.58 billion by 2027, at a CAGR of 8.1% during the forecast period. As systems get more interconnected, the industry is grappling with an increasing number of breaches and sophisticated cyberattacks, driven by different motives. This is evident from the rise in cyberattack incidents as well.

On the other side, the Indian cybersecurity training market is expected to grow from $952.5 million in 2022 to $1.9 billion by 2027, at a CAGR of 15.6% during the forecast period. EdTech investments will increase in 2023 by 4-6%, particularly in the skilling sector, with cybersecurity as a prime career opportunity due to the increasing use of data and digital advancements.

The market’s growth is attributed to the increasing demand for cybersecurity professionals, growing awareness of cybersecurity threats, and government initiatives to promote cybersecurity education and training.

  • The Cybersecurity Training Ecosystem in India is poised for significant growth in the post-COVID era. This is due to several factors, including the increasing digitization of the Indian economy and the growing adoption of emerging technologies such as cloud computing, artificial intelligence, and machine learning.

  • There is a shortage of qualified cybersecurity trainers in India. This shortage is expected to continue in the coming years, due to the high demand for cybersecurity professionals and the limited number of qualified candidates. This presents a significant opportunity for businesses that can provide high-quality cybersecurity training programs. The quality of training offered by different institutes varies widely. This means that businesses and individuals need to be careful when choosing a cybersecurity training provider.

  • The education industry in India is growing rapidly, and there is a growing demand for online education. This presents an opportunity for cybersecurity training providers to reach a large audience of potential students. The Skilling institutions have launched online and hybrid models to expand their reach, enabling people worldwide to learn at their own pace.
    • India is the second largest mae-learning market despite having an internet penetration of just 16%. This country enrolls over 70 million students and the pandemic-fueled boom in 2021 made edtech the most funded startup segment in India, with a staggering $4.73 billion in funding.
    • The industry is expected to reach an impressive US$4 billion by 2025 with a CAGR of 39.77%. There is a lack of awareness of the latest cybersecurity trends and threats among many Indian businesses and organizations which makes them more vulnerable to cyberattacks. Thus, businesses and organizations need to be more aware of the latest cybersecurity trends and threats to protect themselves from cyberattacks and create better ones.

  • It is important to understand the target audience’s specific needs for cybersecurity training in India. This includes understanding the types of industries they work in, the types of cyber threats they are most likely to face, and their current level of cyber security awareness.

  • The Indian government has introduced several regulations to promote the development of cybersecurity skills. These regulations can impact the delivery of cybersecurity training in India. For example, the government has mandated that all government employees must undergo cybersecurity training.

  • The dynamics of India’s GDP and its governance framework have a tangible impact on the requisites for cybersecurity education and training. A burgeoning economy, notably one characterized by a thriving IT sector, invariably begets an upsurge in the demand for cybersecurity professionals. For instance, India’s GDP reached $2.87 trillion in 2021, with the IT industry contributing significantly to this growth. This not only underscores the nation’s economic robustness but also highlights the escalating demand for cybersecurity expertise.

  • Meanwhile, national bodies such as the All India Council of Technical Education (AICTE) and National Skill Development Council (NSDC) have come forward to minimize the talent gap in the cybersecurity space and started to offer courses and training on the same. AICTE through its ‘Digital Skilling’ platform offers cybersecurity courses for free and NSDC further plans to train people on such emerging technologies. All these initiatives by public and private players seem to be focused on building the required workforce in the cybersecurity domain.

  • It is important to understand the top cybersecurity jobs in India to develop education and training programs that meet the needs of the industry. This includes understanding the skills and experience required for these jobs. It is also important to identify the least tapped cybersecurity segments in terms of sub-topics and geographic coverage where there is a shortage of cybersecurity professionals and develop better training programs and courses.

This case study demonstrates that market research is essential for businesses that want to enter new markets in the ed-tech space – understanding the geographic reach of an important topic such as this, innovating in terms of content provision, bettering the educational system, thereby improving the cyber threat issue resolution TAT at the basic level. With technology adoption being fast-forwarded over the last few quarters and the demand for technology-driven products having gone up multifold. Many skill sets such as application development security, cloud security, and risk management have rapidly grown among others. The challenge in getting a skilled professional in cyber security is also because for each of the roles the individual needs to have the right combination of multiple security skills along with technology, business, and interpersonal skills as cyber security jobs have been morphed into hybrid roles as more and more businesses start to adopt digitization and digitalization as part of their business scale.

Based on the findings of the study, the client was able to develop a comprehensive strategy for entering and expanding the Cybersecurity Training Market in India. They are now well associated with Grade-A institutes and thriving in the Edtech space, with their cybersecurity content specially curated by Mossad themselves.

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