Source | https://economictimes.indiatimes.com : By Rica Bhattacharyya, Sachin Dave
MUMBAI: Demand for cybersecurity experts in India has outstripped supply of these professionals by three times over the last 18 months, according to research by an executive search firm, as companies seek to bolster their defence against data security breaches.
Currently, there are 10,000-15,000 open jobs related to cybersecurity in India, according to Belong, a technology platform that helps its clients search and hire professionals for cybersecurity, among other roles, according Belong’s research.
“Big security breaches have led to a huge push towards cybersecurity in the last 12-18 months, with organisations going on a hiring spree to secure their data and systems,” said Rishabh Kaul, co-founder of Belong. Tarun Wig, co-founder of Innefu Labs, a provider and developer of niche and innovative cybersecurity solutions, said, “A single cyber attack can cause share prices to tumble drastically, as was the case in Walmart.
With this, the requirements in cybersecurity have increased drastically.” The last one year has seen a spurt in cyber attacks on Indian companies and government bodies. While WannaCry and Petya ransomware may just be the tip of the iceberg, companies and the government are rushing to strengthen their defence. According to the people aware of the matter, the total cybersecurity segment has been growing fast for most consultancies. Both preventive and post-incident investigations could be anywhere between Rs 800 and Rs 1,000 crore in fees, they said.
The big four professional services firms—EY, PwC, Deloitte and KPMG—together control about 80% of the market. These firms currently have about 1,200 people in cybersecurity teams across India. “In last one year, there has been a spurt in the number of incidents, due to which not just the private sector but also government agencies have woken up to cybersecurity,” said a partner at one of the Big Four consulting firms. “Cybersecurity could be divided into pre-incident and post-incident, and all of this is currently growing, including the number of people being hired,” the executive said.