With the rapid surge in threat landscape, the global cybersecurity market is at an all time high. Increased boardroom concern, growth in CIO budgets and a massive focus on security innovation by vendors like Sophos is setting the tone for a proactive and predictive approach to enterprise security.
From an overall Cyber Security growth PoV, how was the calendar year 2018 from a global and India market perspective?
IThe global cybersecurity market is expected to grow from USD 152.71 billion in 2018 to USD 248.26 billion by 2023, at a CAGR of 10.2% during 2018–2023. Whereas India’s cyber security market for products and services will grow up to $35 billion in 10 years from the present $4.5 billion.
Ransomware and high-profile data breaches continued to grab the headlines in 2018.Ransomware as a Service (“RaaS”) was big business on the dark web, where criminals sell kits that buyers can use to make and distribute their own ransomware.
A SophosLabs threat report revealed that hackers are looking beyond traditional ‘spray and pray’ style attacks that are automatically distributed through millions of emails, and turning to premeditated and targeted ransomware attacks. These are more damaging than if delivered from a bot, as human attackers can find and stake out victims, think laterally, trouble shoot to overcome roadblocks, and wipe out backups so ransoms must be paid.
Elsewhere, we saw a rise in the volume of malware payloads as hackers covertly infected computers with software to do the calculations needed to generate cryptocurrency and kept the proceeds for themselves. As the threat landscape continues to evolve and hackers find new ways to breach security, the reality is that organizations can no longer build strategies for “if ” they suffer a breach but “when”.
How was SOPHOS performance for this calendar year from global as well as India perspective?
In the fiscal year ending 3/31/2018, Sophos reported that billings grew by 22% to $769 million and revenue increased by 21% to $641 million. Overall, Sophos continues to see a robust demand environment, with a doubledigit increase in billings from new customers, and Sophos Central and Intercept X both continuing to establish momentum throughout the quarter.
What activities differentiated you from competition and helped increase market share?
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