Future Global Cyber Security Hotspots
- Analysis identifies three geographical cyber hotspots for 2017
- Cyber security investment across France, Australia and the UAE expected to exceed $3 billion by 2020
- Government initiatives will drive demand for sector specialists
France, Australia and the UAE will become the next big cyber security ‘hotspots’ for businesses and contractors working to combat the rise and evolution of cyber-crime.
Extensive research carried out by Procorre, which has tracked levels of government investment in ‘cyber hubs’ and the introduction of national cyber strategies, has revealed that between the three countries, more than $3 billion is being invested in their cyber security industries over the next three-four years, cementing their governments’ commitment to tackling global cyber-crime.
France - €1 billion has been put aside to implement the country’s new cyber security strategy over the next three years. The strategy is expected to create a ‘unified, cooperative approach to protecting government, commerce and individuals’ helping the government to establish ways of protecting fundamental interests online and to defend critical infrastructure from cyber-attacks.
Australia – The Turnbull government’s cyber strategy for 2016 and beyond aims to bring more Australian technologies to market by supporting and creating innovative domestic companies. The government will invest more than $230 million over four years, complementing the $400 million investment already committed in the 2016 Defence White Paper.
UAE – In 2016, Dubai officially launched its $270 million Future Accelerators programme designed to transform the city into an innovation hub and the Gulf Cooperation Council (GCC) is predicted to spend up to $1 billion on cyber security by 2018.
IT businesses would be wise to consider these three emerging markets when looking at places to start or expand their operations.
For example, companies like the NCC Group which has its headquarters in Manchester, UK, has chosen to continue its international expansion in Dubai because of the prevalence and pace of its evolving IT sector, and we’re seeing other big companies investing in these emerging markets too. With other companies across the globe thinking about their next move it’s important to consider these burgeoning hotspots.
However, with increasing levels of investment and a higher number of companies starting or expanding in countries like France, Australia and UAE, there may not be enough specialist consultants to meet demand: demand for cyber skills is expected to outstrip supply by a third before the end of the decade.
Despite this, the buoyant cyber security market is expected to continue growing globally from $75 billion in 2015 to $170 billion by 2020, further boosted by the £1.9 billion National Cyber Security Strategy recently announced in the UK.
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