ICRA Analytics Limited (ICRA Analytics), a subsidiary of ICRA Ltd, has entered the Indian cyber security market, valued at $3-5 billion. They formed a partnership with Bitsight, a top global firm specializing in cyber risk management and affiliated with Moody’s. This collaboration allows ICRA Analytics to provide advanced cyber risk management solutions to clients throughout India.
“The Indian cyber security market is estimated to be valued at approximately USD 3-5 billion and is expected to grow at a CAGR of 13-15 per cent over the next five years. ICRA Analytics expects this foray to support its business growth in the future,” ICRA Analytics MD & CEO Jayanta Chatterjee told PTI.
“Our collaboration with Bitsight will enable us to deliver next-generation cyber risk solutions across India. This strengthens our bouquet of offerings under the risk management platform and ensures access to superior quality cyber risk management frameworks for our clients,” he said without providing any business projections.
Jason Rivard, Global Channels, Bitsight, said, “We are proud to partner with ICRA Analytics to bring Bitsight’s proven cyber risk management solutions to businesses across India. Our combined expertise will empower Indian enterprises to better identify, communicate, and prioritize cyber risks in today’s complex digital landscape.”
ICRA Analytics offers a range of services, including analytics, digital platforms, and consulting for risk management, market data, ESG, and knowledge services.
