ICRA Analytics ventures into Indian cybersecurity market with Bitsight

ICRA Analytics Limited (ICRA Analytics), a wholly-owned subsidiary of ICRA Ltd, has announced its foray into the $3-5 billion Indian cyber security market through a collaboration with Bitsight, a leading global cyber risk management firm and a Moody's partner.

This partnership will enable ICRA Analytics to offer cutting-edge cyber risk management solutions to clients across India, the company said.

"The Indian cyber security market is estimated to be valued at approximately $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 provides services, solutions, analytics and digital platforms for risk management, market data, ESG, knowledge services and consulting services.