NEW DELHI, Oct. 5 (UPI) -- U.S. computer firm Hewlett-Packard predicts India will become a major market for its security products.
"It is an upcoming market segment. We see many conversations around security than we saw even last year," HP India Vice President and Country Manager Neelam Dhawan told The Business Standard.
"There is an awareness coming up in India especially after incidents like the power grid failure, data thefts. Though in India it (the market for enterprise security products) is not as big as we like it to be but it will become one of the fastest growing market place for us to be in next few years."
Dhawan added that government projects such as the Unique Identification Authority and National Rural Employment Guarantee Scheme require robust security as they deal with sensitive data.
"We are taking proactive and intelligence-based security approach and take care of every aspect that includes software, network and devices. The early adopters of enterprise securities would be government, banks, BFSI. Telecom sector would also be big market for HP," she said.
"Cybersecurity threats are growing exponentially, and without a proactive information risk management strategy, enterprise growth, innovation and efficiencies are hindered.
"Cloud, mobility and big data initiatives are helping firms solve challenges, while driving innovation and bringing in agility and improved financial management. However, these initiatives also can introduce big security concerns."
The United States and Europe are the largest markets for HP security packages.
India could well prove essential to improving HP's bottom line.
India could provide a nice boost for HP, which has seen its share price sag to the lowest point in 10 years. HP Chief Executive Officer Meg Whitman recently predicted a "broad-based profit decline in 2013."
HP data indicate the Indian Security Information and Event Management market is worth roughly $12 million and is expected to grow about 21 percent by the end of the year.
HP Enterprise Security Products Chief Solutions Architect, South Asia Damanjit S. Uberoi observed, "Cybersecurity threats are growing exponentially, and without a proactive information risk management strategy, enterprise growth, innovation and efficiencies are hindered."
New features that HP is offering to India include HP Assured Identity (solution offering identity, credential and access management), Comprehensive Applications Threat Analysis on demand and HP Security Operations Center consulting services.