With a strategic collaboration done with Israel Aerospace Industries, the IT giant Tech Mahindra plans to expand their cybersecurity business in the next few years.
With a strategy of developing their business capabilities to handle and deliver cybersecurity solution and extend skilled training for business growth, the company is focused on growing their business over 30 percent in the coming years. The company expects a modest growth rate in their security business while heading towards exceeding their business possibilities after reaching their estimated targets at least for the next three years.
Tech Mahindra is focused on the growth and business opportunities in the security domain. The senior officials are determined towards achieving year-over-year growth for the next three years, at an anticipated compound annual growth rate (CAGR) that only goes up owing to their strong alliance and collaboration.
The company’s recent partnership with Israel Aerospace Industries, a security segment of the Government of Israel, the company is focused on developing security solutions for critical frameworks and utility companies.
Rajiv Singh, Senior Vice-president, and Global Head, the Cybersecurity Division – Tech Mahindra, recently said that they are looking forward to focusing on increasing the capabilities of handling the challenges associated with cybersecurity. The company is set to soon commence a small internal unit of professionals, later branching out for extension of the training facility.
Moreover, the global cybersecurity market is growing 14 to 18 percent per annum, an Israel Aerospace Industries official stated. Out of the total IT budget of a company, 10 to 15 percent is allotted to cybersecurity, he added. With these statistics, the growth of the cyber security business is quite evidential. The need for effective solutions to cater to the cybersecurity market is, therefore, bringing in further opportunities for tech firms across the globe. With such initiatives taken by the company, it is more likely that Tech Mahindra will witness major transformations in the next few years, as stated by the company officials.
Singh further added that Tech Mahindra would begin with business extensions in India before moving overseas in other regions, including the US, UK, Asia Pacific, and across Europe. This strategic move of the company is expected to enable the company to cater to the customer requirements revolving around the verticals such as IoT market, cyber police, defense forces, and others such as cortical infrastructures, he further added.