Recently the UK Government has strongly invested in cyber security solutions such as Cyber Essentials, encouraging businesses to protect themselves and their customers against potential cyber threats.
This has proved to be successful and now the Department for International Trade (DIT) has released a “Cyber Security Export Strategy” which outlines the latest plan for how the UK Government will support the cyber security sector.
Currently there are approximately 800 cyber security companies in the UK. The majority of these companies are SMEs that form part of the Cyber Exchange and the NCSC Marketplace of GCHQ-accredited firms.
Alongside this, the UK Government has built two new cyber innovation centres in Cheltenham and London. This effort proves that the Government is committed to working with tech start-ups that have created innovative solutions that can be used on an international scale.
Cyber security export strategy
The UK Government will increase support levels to the UK’s world-leading cyber security firms, focusing on priority markets and sectors.
The report highlighted the six most promising sectors for cyber security exports worldwide:
It is not just the UK that is becoming more aware of cyber threats to vulnerable organisations. Many governments are currently undergoing digital transformation to protect public sector bodies from attacks.
Consumer trust is vital to those working in Financial Services, which is why many businesses are investing in certifications like Cyber Essentials.
Improved technology could lead to the hacking of new generation cars, meaning that the sector must invest in strong cyber protection. Businesses are already investing in this as just under £1bn was spent globally by this sector on cyber security in 2016.
Energy and Critical National Infrastructure
The energy and critical national infrastructure sector is further behind on technological advancements than it should be due to many legacy systems requiring ongoing maintenance to ensure security.
Healthcare organisations across the world are investing in cyber security to protect patient data and valuable intellectual property. After attacks like WannaCry when at least 6,900 NHS appointments were cancelled because of the attack, it is proved that even larger organisations can suffer from cyber attacks.
Digital Infrastructure still has a long way to go before it catches up with the technology that is currently available. Initiatives like smart ticketing have improved customer journeys, however, there is potential for severe disruption using new digital payment methods.
Find Security Tender Opportunities
The DIT has reported that the sectors mentioned “are seeing the greatest spend globally and are areas of UK expertise”.
In the future, DIT want to engage with decision-makers and help cyber security companies build businesses relationships in the UK and abroad.
If your business offers services that would benefit public sector bodies under the categories above, now is an excellent time to look for security tender opportunities.
Find out more about security tender opportunities.