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April - 2014 - issue > In My Opinion

Security Watch: Electronic Security Challenges & Opportunities

Aditya Sekhar, Chairman & Managing Director, Micro Technologies (India) Limited
Friday, April 4, 2014
Aditya Sekhar, Chairman & Managing Director, Micro Technologies (India) Limited
Micro Technologies (India) Limited (BSE: 532494) (NSE: MIRCOTECH) is a global developer and marketer of security solutions. Headquartered in New Bombay, the company has a current market cap of Rs.12 crores.

The unrest and uncertainties worldwide have necessitated all countries to enhance their security cover. According to Gartner, the leading global technology research firm, the worldwide technology and services security market was forecasted to grow from $61.8 billion in 2012 to $67.2 billion in 2013 registering a growth of 8.7 percent. The market would grow to more than $86 billion in 2016.

Emerging Trends
Major trends that will shape the security market: mobile security, big data and advanced targeted attacks. Further, the "bring your own device" (BYOD) concept will emerge as a conspicuous phenomenon that will have a far-reaching effect on the security industry. An organization's requirement for managing security of data and networks with the adoption of BYOD would present significant business opportunities for technology service providers. Over the next few years, the amount of data required for information security to effectively detect advanced attacks while supporting new business initiatives will grow rapidly.

To mitigate the attacks, organizations would require an in-depth defense strategy across multiple security controls. They must continue to set the security bar higher, reaching beyond many of the existing security and compliance mandates.

Indian Security Market

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