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Monday, July 01, 2013

Cyber Security Spending Reached $41.76B in 2012

​Cyber security for critical infrastructures has become an issue of primary importance to nation states. Policy is playing an increasingly important role alongside the deployment of technical measures.

The cornerstone of implementing a viable digital society relies heavily on the concept of ensuring trust in the underlying infrastructure, according to the latest market study by ABI Research.

Energy, telecoms, healthcare, and transport systems and other critical sectors are making use of Internet connectivity and next generation technologies to boost productivity and improve efficiency. Protecting these networks from cyber threats requires a national approach.

Governments have a duty to ensure the digital security of critical infrastructures. This requires accompanying technical efforts with policies in order to implement a coherent cyber security strategy across all sectors.

From national defense through to water management, all connected networks require strategic planning and organization to achieve an acceptable level of cyber security.

Currently, few nation states are prepared to counter a full-scale cyber-attack on their critical infrastructure. And there is no doubt that online threat agents are growing in number and in skill.

“Nation states need to focus on elaborating cyber security strategies as their critical sectors go online," said Michela Menting, senior analyst at ABI Research.

Research and development of policies, regulation, cooperative schemes, public-private partnerships, guidelines, and best practices are all important elements in developing a robust strategy that can minimize cyber risks and strengthen infrastructures.

ABI Research estimates the cyber security spending by nation states, non-governmental organizations, technical bodies, and private sector operators for critical infrastructure totaled $41.76 billion globally in 2012.

Increased spending over the next five years will be driven by a growing number of policies and procedures in education, training, R&D, awareness programs, standardization work, and cooperation among other projects.

This market study primarily assessed critical national and sector-specific strategies currently being implemented in North America and Europe.