Australia’s Cyber Security Sector Competitiveness Plan
Australia’s Cyber Security Sector Competitiveness Plan 2022: AustCyber’s efforts to develop the Australian cyber security sector have been successful, as the sector now generates an estimated $2.4 billion in Gross Domestic Product (GDP). However, the sector still faces three key challenges that need to be addressed in order to make it competitive at a global […]
Australia’s Cyber Security Sector Competitiveness Plan 2022: AustCyber’s efforts to develop the Australian cyber security sector have been successful, as the sector now generates an estimated $2.4 billion in Gross Domestic Product (GDP). However, the sector still faces three key challenges that need to be addressed in order to make it competitive at a global level. These include limited startup support, a lack of access to export markets, and a shortage of trained personnel. If these challenges are addressed, it is estimated that the industry could generate an extra $800 million in annual revenue by 2026. To achieve this, the government needs to support research and innovation, increase domestic procurement and export capabilities, and attract local and international talent. With the right support, Australia’s cyber security sector has the potential to benefit the economy and protect it from increasing disruptive and costly attacks.
Reference: https://www.austcyber.com/file-download/download/public/1704