Silicon Valley (US) headquartered Symantec will focus on providing security solutions to small and medium business (SMBs) enterprises in the country. The software developer would also provide tailor-made and customised offerings for SMBs.
Industry sources estimate the Indian SME sector in the country to be worth Rs 25,000 crore with over one crore units. The SME sector is expected to grow at around 20 per cent on a year to year basis in the coming years. Use of information and communication technology is expected to be the growth driver in the sector.
“Our findings show that compared to large enterprises, security levels are lower for small and medium enterprises. We plan to focus our offerings to suit requirements in the SMB sector,” Mr Shantanu Ghosh, Managing Director, India Product Operations, said.
According to Mr Ghosh, the company has a number of offerings for small and medium enterprises. Some of the products are also made for easy installation and suit varied requirements of the enterprises. SMB offerings would also have integration of a number of different products at a different price.
Symantec reported global revenues of $6 billion (nearly Rs 30,000 crore) and is considered as the market leader in providing security solutions. It also provides data back up services. It has over 1,000 security solutions to cater to different enterprises.
The company has three research and development units in India – one each in Pune, Chennai and Bangalore.
Security Survey
Meanwhile, the Symantec 2011 State of Security Survey – India has pointed out a substantial increase in cyber attacks on companies. While 66 per cent of respondents had reported incidents of cyber attacks in 2010, this figure stood at 72 per cent in 2011.
Respondents, however, reported a lower loss of revenue from cyber attacks. While surveying companies reported nearly Rs 60 lakh revenue loss because of cyber attacks in 2010; they reported a loss of Rs 41 lakh this year.