Israeli cybersecurity grabs 8% global market share

By: Tali Tsipori – Globes

20% of all Israeli high-tech companies are engaged in cyber security, making it the country’s biggest sector.

There’s a reason why Israel is known as a tech hub for its reliable and secure technological advancements. While known as ‘Silicon Wadi‘ (Silicon Valley in Hebrew), cyber security is critical for their tech firms, making cyber security their biggest sector.

Israeli exports of cyber security accounted for 8% of the global market’s total of $71.7 billion. Their major competitors are: the United States, the United Kingdom, China and India.

According to Globes:

Although Israel is neither the US, the UK, nor China, Bank of America-Merrill Lynch devotes a separate, albeit small, section in its report to Israel’s contribution to the global industry, writing, “Israel stands out as a leader in small specialists; due to its political position and history, it has a very focused agenda to produce leading-edge solutions for the military/intelligence community (although, like the UK, there is a long history of its best startups being acquired by larger overseas players, mainly in the US). Israel is considered an international leader in cybersecurity with its “Unit 8200,” which is the largest intelligence unit of the Israel Defense Forces (IDF). For instance, in 2014, Israel exported more than $6 billion in cybersecurity products, which was double the total in 2013 (source: 5th Annual International Cybersecurity Conference 2015).”

This is actually the reason why Israel is among the 10 countries best prepared for cyber attacks. A survey by the HCSS company of the preparedness of countries for such attacks according to various criteria gave Israel a general rating of 3, the ninth highest. The US had the highest rating, 3.8, following by the UK (3.6) and the Netherlands (3.5). Israel’s rating is higher than that of France (2.8), Russia (1.6), and even China (1.4). According to these figures, Israel has one of the world’s lower cybercrime rates: 1%, compared with 23% for the US (the highest) and 9% for China (second highest). Israel’s cybercrime rate is the same as that of Argentina and Australia.

Visit Globes for the full article.