Enterprise security solutions firm Palo Alto Networks is eyeing the rapidly expanding network security market in India as organisations are embracing mobility and cloud among other new technologies.
According to market analysts, enterprise security market in India is expected to touch USD 548.7 million (about Rs 3,400 crore) this year logging a growth rate of over 14 per cent.
"Businesses today depend a lot on applications, which means to open up one's network without compromising on IP property," Palo Alto Networks Managing Director (India and SAARC) Anil Bhasin told PTI.
In today's time when bring your own device (BYOD), mobility, cloud, etc have become important in raising a firm's productivity, at the same time keeping a check on costs and a fully integrated network security solution are must, he added.
"India is rapidly expanding in terms of such disruptive technologies and we believe it is the best time for firms like us who provide personalised security solutions to expand with the market," Bhasin said.
Presently, the company has about 180-200 clients in India and is rapidly expanding its operations.
"We have increased our sales team as well as our technical assistance centre in Chennai is up and running. Besides, we have two RMA (replacement against faulty equipment) depots in Bangalore and Mumbai," Bhasin said.
Another RMA depot is coming up in the next three moths in Delhi, he added.
In a bid to strengthen its channel presence in India, Palo Alto Networks is also doing a marketing campaign across 8 cities in the country, where the firm's executives are educating its partners about the network security landscape.
Globally, Palo Alto Networks has over 14,500 customers in more than 120 countries across multiple industries.
The NYSE-listed firm employs about 1,200 people worldwide and had posted revenues of USD 396 million in fiscal 2013.