U.K. Launches Cybersecurity Unit to Fight Against Cyberattacks

United Kingdom: The Government of United Kingdom has announced the opening of National Cyber Security Centre (NCSC) in Central London to reduce the destructive effects of cyberattacks in the country.

NSCS is a new part of GCHQ, which is a U.K. based security and intelligence agency with an objective to make U.K. the hardest possible target for the cyber attackers in coming years. The British Government has splurged about USD 2.12 billion for strengthening its cyber laws with the focus of transforming its capabilities in cyber defence to defend their economy.

The recently appointed NCSC boss, Ciaran Martin, while addressing the masses at opening ceremony said– “We will help secure our critical services, lead the response to the most serious incidents and improve the underlying security of the internet through technological improvement and advice to citizens and organizations.”

TechSci Research depicts that with such initiatives being taken on the part of governments all over the world against the damaging effects of cyberattacks, the threat that prevails could certainly be dismissed. However, the initiative by UK government will help in diminishing the effects of cybercrimes in the country, which, in turn, will affect the market of cyber security across the globe as well.

According to recently published report by TechSci Research, “Global Cyber Security Market By Security Type, By Solutions, By End Use Industry, By Region, Competition Forecast and Opportunities, 2011-2021”, global market for cyber security is projected to surpass US$ 137 billion by 2021. Growing trend of Bring Your Own Device (BYOD), rising adoption of cloud computing, expanding market for Internet of Things (IoT) are expected to continue driving the cyber security market across the globe over the next five years. Though the global cyber security market is highly fragmented, Symantec Corporation emerged as the largest player in 2015, followed by BAE Systems PLC, Intel Corporation and Cisco Systems. Banking, Financial Services and Insurance (BFSI); IT & Telecom; defense; energy & power; retail; and healthcare have emerged as the key application areas where cyber security solutions are being increasingly adopted.