HCL Tech readies a world-sized plan for cybersecurity market

HCL Technologies, India’s third-largest software services company is working to corner a larger share of cybersecurity. The number of cyberattacks has increased and accelerated their focus on cybersecurity towards digital transformation.

According to market research firm Gartner, the services pie includes system integration, operations management services and consulting services. It is growing by between 6% and 13% depending on various kinds of services. HCL is reporting faster growth in the cybersecurity segment. It has created an overarching strategy to capture a larger share of the fragmented market, Maninder Singh, corporate vice president, cybersecurity and Governance, Risk and Compliance (GRC), HCL Technologies told ET.

Singh said that “Our strategy is to globalise, create large global scale capability, consulting capability and look at new areas like zero trust identity management and corner each piece. The market is very fragmented, so we will have an overarching strategy and also for segments like energy and utility, financial services or retail,”.

 According to the State of Cybersecurity 2021 report by IT governance firm ISACA and HCL Technologies, the percentage of enterprises experiencing more cyberattacks than the previous year reversed course and the attacks increased reaching a level, not since 2018.

“The prevalence of remote work throughout the pandemic appears to be motivating strategic changes that are better suited for a highly mobile workforce. More than one in three enterprises adopted either a Secure Access Service Edge (SASE) model or a Zero Trust security strategy as a cybersecurity approach because of the pandemic. In terms of geographies that are driving growth in cybersecurity for the company, North America remains very large and HCL is also making inroads into Brazil and parts of Latin America.”

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