The First Joint Cyber Security Centres of USD36.25 million Launched in Brisbane

Australian government will develop new approaches to cyber security by bringing industry, government and law enforcement together

Australia: The Australian government is strengthening cyber security in the country by collaborating industry, government and law enforcement, all-together with an aim to focus on relevant threat information. Under USD36.25 million program, the first centre is developed in Brisbane, followed by the establishment of similar centres in Sydney, Melbourne, Adelaide and Perth in coming period.

“Australia’s cyberspace is not something that government can do alone”, Attorney-General George Brandis said at the launch of centre, while discussing about the importance of cyber security and the need of working together to improve the capability as well as country’s economic growth. The government predicts the centre to conduct a wide range of activities, including data analytics, targeted training, workshops and threat mapping. 

Prime Minister of Australia, Malcolm Turnbull, launched the country's cybersecurity strategy in April, 2016 focusing on nation’s cyber network from state-sponsored attackers. The Brisbane centre was earlier expected to open last year. In addition, the government also launched its Cyber Security Growth Centre in December 2016, which works as a not-for-profit company with the new name, Australian Cyber Security Growth Network Ltd.

TechSci Research believes that with the increasing efforts been taken by government, the increasing threat to cybersecurity would certainly see a downfall. These efforts are also expected to enhance the country’s ability to fight against increasing cyber-attacks, which would boost the market of cyber security across the country.

According to a recently reelased 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.