Australia's Cyber Security

Sector Competitiveness Plan

PLAN AT A GLANCE

Purpose

To grow a vibrant and competitive cyber security sector, that generates increased investment and jobs for the Australian economy

Outlook

  • Global demand surging

  • US$131 billion on cyber security in 2017

  • 88 per cent increase expected by 2026

  • Australia’s revenue from cyber security could triple over next decade

  • Australia well placed to become global cyber security powerhouse

Challenges being addressed

  • Skills shortage – around 18,000 more cyber security workers by 2026

  • Lack of alignment in research and commercialisation – need to concentrate on areas of strength and sector segments of software, security operations and underlying processes

  • Market barriers – need to remove hurdles so local companies can scale, mature and export solutions

Actions for growth

Coordinated investment and effort required across the cyber security industry, the research, education and training sector, and government to:

Grow the ecosystem

  • Help startups find first customers
  • Make access to seed and early-stage venture capital easier
  • Improve research focus and collaborate to assist commercialisation
  • Simplify government and private sector procurement processes

Export to the world

  • Support Australian companies to develop scalable service delivery models
  • Attract multinationals to use Australia as base for reach into the Indo‑Pacific region
  • Develop cyber security as educational export

Lead in cyber education

  • Attract and retain best and brightest
  • Ramp up efforts to embed world leading cyber security education and training
  • Create vibrant, industry‑led professional development pathways

Benefits

  • Thriving and dynamic, globally competitive cyber security sector
  • New jobs and increased revenue
  • Support for Australia’s national security through effective, sovereign cyber security capability
  • Foundation for future success of all industries across the economy through digitally driven growth

FOREWORD

Michelle Price

Michelle Price

Australia is well placed to become a global cyber security powerhouse. As organisations increasingly rely on digital technology and data, the need to protect people and assets from malicious cyber activity is growing. This strong demand for cyber security is creating substantial economic opportunities for Australia.

Cyber security is one of the most rapidly expanding sectors worldwide. Global spending on cyber security products and services is expected to increase by 88 per cent over the next eight years, from around US$131 billion today to almost US$250 billion in 2026.

Australia’s cyber security sector has the potential to capture a significant share of the growing global cyber security market.

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Plan at a glance

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Executive summary

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Global outlook

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Growth opportunities for Australia

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Challenges to sector growth

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Building a competitive sector

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More about AustCyber

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Additional information

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