More sophisticated cyber attacks, Improved Internet Services, Iot and Blockchain Cybersecurity have fueled the Cyber Security Market for Australia: Ken Research

Focus on investment in cyber security, cyber-attacks, digital economy and cybersecurity regulatory system are major factor contributing towards development of cyber security market in Australia.

Cybersecurity in Healthcare: The demand for cybersecurity witnessed a sharp rise due to the rise in cyber attacks due to COVID-19. Hacking patients' medical devices is a common cyberattack during the COVID-19 pandemic because more patients are using remote care. The temporary and makeshift medical facilities being used to care for people infected with the novel coronavirus have created more vulnerabilities for hackers to exploit. Healthcare Cybersecurity solutions are being sold for several purposes such as identity and access management, risk and compliance management, antivirus and antimalware, security information and event management, and intrusion detection system.

Expansion of Internet Coverage and Speed: With the help of the Internet Australia Project, 95% of urban residents would have access to managed high-speed broadband networks. The State Council of Australia also intends to spend an additional US$22 billion on upgrading broadband network infrastructure in the nation's rural districts. An estimated 30 million households and 50,000 communities would receive better internet access due to the government efforts in Australia.

Increased phishing and Malware Threats among Businesses: Ransomware assaults are still among the most troublesome cyber threats to people and companies, and they need to be addressed. In order to provide a coordinated worldwide response to address these cyber threats, the Australian Cyber Security Centre (ACSC) collaborated with its colleagues in the UK and the US to issue this alert and delivering a coordinated international response to thwart these cyber-attacks. The ability of cybercrimes to infiltrate, take control of, and harm entire electronic information networks has substantially risen due to malware such as viruses and trojan horses. Malware is a tool used by cybercriminals to seize control of hardware or software in order to steal money from consumers, delete confidential data, or carry out other nefarious or dishonest operations. These elements together fuel the expansion of cyber security.

Analysts at Ken Research in their latest publication “Australia Cyber Security Market Outlook to 2027F- Driven by rising enterprises, technological developments and market investment” observed that Cyber Security Market in Australia is at growing stage. The high number of smartphone users, cybersecurity tools, Australia’s regulations with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at an ~% CAGR during 2022-2027F.

Key Segments Covered in the report:-

Australia Cyber Security Market

By Component

Hardware

Software

Services

By Security

Network Security

Endpoint Security

Application Security

Cloud Security

Others

By Deployment Type

On-Premise

Cloud

By Region

Northern

Western

Eastern

Central

Southern

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By Organization Size

Medium and Small Enterprises

Large Enterprises

By Industry

BFSI

Government Sector

IT

Telecom

E-Commerce

Healthcare

Retail

Others

Key Target Audience

Technology Companies

Cybersecurity Companies

Banking and Financial Institutions

Cybersecurity Service Providers

Government Agencies

Cybersecurity Consultants

Time Period Captured in the Report

Historical Period: 2017-2021

Base Year: 2022

Forecast Period: 2023-2027F

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Companies Covered

CISCO Corp.

CSC Corp.

DELL (SecureWorks Inc.)

IBM Corp.

Intel Corp.

Akamai Technologies

Context Information Security

iSight Partners

NCC Group

Ping Identity

CyberCX

McAfee Enterprise

Key Topics Covered in the Report

Australia Cybersecurity Market Overview and Genesis

Australia Cybersecurity Market Size, 2022

Australia Cybersecurity Market Segmentations, 2022

Demand Analysis of Australia Cybersecurity Market

Porter’s Five Analysis, Growth Drivers and Trends in Australia Cybersecurity Market

Challenges, government regulation and impact of covid on Australia Cybersecurity Market

Future Outlook and Market Size for Australia Cybersecurity Market, 2022-2027F

Market Segmentations for Australia Cybersecurity Market, 2022-2027F

Competitive scenario for Australia Cybersecurity Market

Analyst Recommendations and Industry Speaks

For more insights on the market intelligence, refer to below link:-

Australia Cyber Security Market

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