Indian cybersecurity startups poised for strong growth amid rising global spend: Accel’s Prayank Swaroop

India’s cybersecurity market has posted a compounded annual growth rate of 25 per cent since 2019, crossing the USD 6 billion mark in 2023, and is projected to expand further with global spending touching USD 200 billion this year, Prayank Swaroop, partner at global VC fund Accel, said on Thursday. Cybersecurity startups in the country are poised to see a steady growth on the back of higher spending in the domestic market, he said at the Accel Cybersecurity Summit 2024 in Bengaluru.

Highlighting the potential of the country’s cybersecurity market, Swaroop said Indian cybersecurity startups are poised to make a global impact, and continue their growth momentum amid a sharp rise in spending for cybersecurity globally.