Consultancy urges businesses and consultants to consider France, Australia and UAE as cyber-crime gathers pace.
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, according to professional services consultancy Procorre.
Procorre, which manages the life cycle of cyber security projects around the world, has been tracking levels of government investment in ‘cyber hubs’ and the introduction of national cyber strategies in order to advise a growing number of clients and consultants on where to find the best project opportunities.
The consultancy has found that between France, Australia and the UAE, more than $3 billion is being invested in cyber security over the next three-four years, cementing their governments’ commitment to tackling global cyber-crime.
Wiktor Podgorski, Head of the Relationship Management team at Procorre, said: “With an increasing number of high profile data security breaches regularly making the headlines, it is clear that cyber-attacks are becoming more frequent and sophisticated, forcing businesses to invest considerable resources to protect themselves and their customers. This means demand for IT companies and cyber security providers will continue to rise in these countries throughout 2017 and beyond.”
- 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 its fundamental interests on the internet, guard national information and defend critical infrastructure from cyber-attacks.
- Australia – This year, the Turnbull government announced its cyber strategy for 2016 and beyond which 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 to enhance Australia’s cyber security capability and deliver new initiatives, 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.
Procorre is urging IT businesses to consider these three emerging markets when looking at places to start or expand their operations.
Wiktor continues: “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. There will be many other companies across the globe thinking about their next move so it’s important for them to consider these burgeoning hotspots.”
However, Procorre is warning that with increasing levels of investment and a higher number of companies starting or expanding in countries like France, Australia and Dubai, there won’t be enough specialist consultants to meet demand.
Wiktor continues: “The demand for cyber skills is expected to outstrip supply by a third before the end of the decade, but we need to make sure the skills shortage doesn’t reach a critical point. As certain countries invest heavily in their cyber security industries there will be a plethora of new roles available for consultants but not always the resources required.”
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.
Heavy investment in global cyber security markets is expected to create many more opportunities for both clients and consultants around the world.
 Financial Times: https://www.ft.com/content/4cabd0fe-8940-11e5-90de-f44762bf9896