- SentinelOne plans to invest $50 million in India
- Some of India’s top automobile, pharmaceutical, manufacturing, food delivery and insurance enterprises are being served by the company
- On a global front cyber protection is taking CenterStage in formulating national defence strategies
- Data localization laws are shaping up in India and risk of cyber threats are increasing. In such a scenario, more cyber firms may set up their shop in India
SentinelOne has opened centre in Bengaluru to assist enterprises across the area in dealing with the growing threat of cyberattacks. To update cyberdefense, the centre will provide innovation, product development, threat research, and engineering, as well as recruiting top personnel. Customer data will be housed in a local data centre as part of SentinelOne’s India strategy. SentinelOne has plans to invest $50 million in India over the next few years as part of its ongoing worldwide expansion.
SentinelOne now employs 100 people in the country and expects to expand to 500 in the near future. Engineering, Marketing, Sales, Finance, Researchers, Business Development, operations and HR are key areas where the organisation plans to hire.
According to the company, Some of India’s top automobile, pharmaceutical, manufacturing, food delivery enterprises, insurance as well as one of the country’s largest airlines and busiest airports, are presently being served by the company.
Cisco Systems, Synopsys, Palo Alto Networks, Fortinet, CyberArk, Oracle Corporation, McAfee, Juniper Networks etc are some of the World’s leading IT and Cyber Services firms, many of the firms have operations in India.
The global cyber security market is expanding. According to an IBM report in 2021, cybercrime costs businesses an average of US$ 4.24 million. According to an IBM analysis, cybercrime is expected to cost $10.5 trillion per year by 2025.
On a global front cyber protection is taking CenterStage in formulating national defence strategies. According to Annual Threat Assessment report of the US Intelligence Community, China’s cyber espionage threat to US government and commercial sector networks is the biggest, most aggressive, and persistent. China’s cyber pursuits and proliferation of associated technologies raise the risk of attacks on the US homeland, the repression of US web content that Beijing considers a challenge to its authority, and the spread of technology-driven authoritarianism around the world.
According to the assessment, China is probably definitely capable of initiating cyber strikes in the United States that would disrupt essential infrastructure services, such as oil and gas pipelines and rail systems.
Compromises of telecommunications corporations, providers of managed services and widely used software as a means of intelligence collection, assault, or influence operations have all been part of China’s cyber-espionage efforts.
According to India’s Computer Emergency Response Team (CERT-In), the country would encounter 11.5 million cyberattacks in 2021. The country’s key infrastructure and government entities were also attacked, in addition to corporate targets.
Due to the unique value proposition offered by Indian enterprises in tackling cyber security threat, the Indian Cybersecurity services market is expected to develop at a CAGR of 20-22 percent from FY2017 to FY2025, according to the Data Security Council of India (DSCI)
Data localisation laws are shaping up in India and risk of cyber threats are increasing, both from state as well as non-state actors. In such a scenario, more cyber firms may set up their shop in India, including localisation of servers for storing data for meeting the legal requirements as well as for capturing the growing business opportunities.
Galactik Views