IT company Tech Mahindra expects its cyber security business to grow in the range of 30-40 per cent, at least for the next three years, according to a senior company official.
"We are doing a very humble start even if we grow 30-40 per annum in our business of security. It is fair estimate of what we can put on ground," Rajiv Singh, Senior VP & Global Head of cyber security unit of Tech Mahindra, told PTI.
He was replying to query on growth and business opportunity that company sees in cyber security business.
Singh said that the growth is expected in cyber security division of Tech Mahindra every year over a period of next three years.
"You have to look at the CAGR , that can only go up when you have strong alliances. When I am talking about growth, I am talking about accelerating in next 3 years. (In) next 3 years, (it) has to be accelerated," he added.
The company recently signed partnership pact with security arm of Israel government-run Israel Aerospace Industries (IAI) to provide and develop technical security solution for utility firms and critical infrastructure.
Under the partnership, Tech Mahindra plans to develop internal capability to handle cyber security solution and further train people to grow business.
"We want to first focus on that there is right level of capability to handle cyber security challenge. We will focus on skilling. We may start, let's say with about 100 people internally and then they will go out and train the trainers," Singh said.
According to a IAI representative, global cyber security market is growing 14-18 per cent per annum and cyber security is now allocated 10-15 per cent of total IT budget of a company.
Globally, the cyber security business opportunity is likely to grow to USD 96 billion in next four years from around USD 20 billion annual opportunity at present.
Singh said that company is focusing on Indian market to start with, and then look at business from the US, UK, Europe and Asia Pacific region from Tech Mahindra perspective.
"Customers for us are in all verticals. We will be specifically looking at critical infrastructure, cyber police, defence forces and then look at IOT market. When I say IoT (internet of things) I am looking at US because lot of technology firms come from there which have created huge platform," he added.