In this piece, we are going to look at the 15 Countries with Cyber Warfare Capabilities. If you want to skip our detailed piece on the cyber warfare industry, and the major companies operating in America’s cyber security market, you can go directly to 5 Countries with Cyber Warfare Capabilities.
The global market for cybersecurity was worth $172.32 billion in 2023 and is expected to reach $424.97 billion in 2024, with a growth rate of 13.8% during the forecast period of 2023-2030.
The increasing popularity of cloud-based security solutions, which provide comprehensive data protection through encryption, strong passwords, multi-factor authentication, and reliable backups, is a key driver of growth. Additionally, the adoption of internet of things (IoT) and big data analytics by organizations is creating lucrative opportunities for the market. The demand for artificial intelligence (AI) and machine learning (ML) based cybersecurity software in various industries is also fueling market expansion. Moreover, the need for continuous management of cyber breaches due to the rise in social media use and hyper-connectivity is driving the demand for cybersecurity. Furthermore, the surge in cyber espionage and cyber-terrorism activities, as well as the increased use of cybersecurity products in military aviation to prevent threats to aircraft during operations, are contributing to the market’s positive growth.
On the other hand, in the USA, according to Gartner’s projections, the information security and risk management market is expected to see a substantial increase in end-user spending, rising from $172.5 billion in 2022 to $267.3 billion by 2026. While businesses are paying attention to essential investments, the current efforts may still fall short. American companies are focusing on employee training, cybersecurity solutions, and bolstering cybersecurity teams, as well as engaging in external audits and pursuing certifications like ISO27001 and SOC2. However, research suggests that only a small portion of the IT budget is allocated to cybersecurity, and a significant percentage of businesses feel they may not be using their cybersecurity budget effectively. To address these challenges, it is imperative for business leaders to develop a comprehensive cybersecurity strategy before making investments in order to enhance overall cybersecurity posture. At this note, let’s discuss the U.S. companies engaged in the cyber security area of the country before we jump on to our list of 15 Countries with Cyber Warfare Capabilities. Namely, Broadcom Inc. (NASDAQGS:AVGO), Cisco Systems (NASDAQ:CSCO), CrowdStrike Holdings (NASDAQ: CRWD) are going to be discussed.
Broadcom Inc. (NASDAQGS:AVGO)
Broadcom Inc. (NASDAQGS:AVGO), an American enterprise security solutions provider, implements a comprehensive enterprise approach to mainframe cybersecurity, offering detailed insights and automation while streamlining security across platforms without requiring specialized mainframe expertise. This strategy enables the establishment of a strategic Zero Trust environment across the enterprise. In the last week of January 2024, Broadcom’s shares (AVGO) reached a record high of $1,284 as investors praised the chipmaker’s expanded revenue sources resulting from the acquisition of cloud-software giant VMware for $61 billion. Investors are also optimistic about new growth opportunities in artificial intelligence (AI). Moving forward, there will be a greater focus on higher-margin infrastructure software.
Cisco Systems (NASDAQ:CSCO)
Cisco Systems (NASDAQ:CSCO) is a U.S. company in the networking and communications sector that offers a range of cybersecurity products and services, including firewalls, routers, switches, VPNs, cloud security, email security, web security, and threat intelligence. In the second quarter ending on December 31, 2023, the company reported $12.8 billion in revenue, which represents a 6% decrease compared to the previous year. The GAAP EPS was $0.65, down 3% year over year, while the Non-GAAP EPS was $0.87, down 1% year over year. Cisco Systems experienced growth in revenue from security, collaboration, and observability during this period.
CrowdStrike Holdings (NASDAQ:CRWD)
CrowdStrike Holdings (NASDAQ:CRWD) is a cybersecurity firm specializing in endpoint protection, threat intelligence, and incident response. The company leverages a cloud-native platform and artificial intelligence to identify and thwart sophisticated cyberattacks. In Q3 FY2023 ending 31 October 2023, CrowdStrike saw a notable improvement in GAAP net income, reaching $26.7 million, marking a turnaround from a loss of $55.0 million. The company’s robust operational cash flow and free cash flow highlight its financial stability. CrowdStrike Holdings Inc (NASDAQ: CRWD) recently hit a significant milestone, surpassing $3 billion in Annual Recurring Revenue (ARR).
An engineer typing on a computer, developing the latest cybersecurity application.
Methodology
To come up with our list of 15 Countries with Cyber Warfare Capabilities, we referred to European Commission and ITU Publication. Both have provided the Global Cybersecurity Index (GCI) for 194 countries, which serves as a credible benchmark for assessing countries’ dedication to cybersecurity on a worldwide scale. It aims to enhance understanding of the significance and various aspects of cybersecurity. The score is measured out of 100, where higher score indicates higher commitment of countries to cybersecurity. Also, for countries standing equal on the GCI score were ranked based on population; incorporating population size into the Global Cybersecurity Index (GCI) rankings for such countries is justified by the superior and vast talent pool for developing a strong cybersecurity workforce. This element plays a crucial role in bolstering a nation’s ability to deal with cyber threats successfully.
With this let’s now jump on to our list of 15 Countries with Cyber Warfare Capabilities.
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15. India
GCI Score 2021: 97.5
Our list of Countries with Cyber Warfare Capabilities starts with India.
In the past two years, Indian cybersecurity startups have attracted approximately $130.7 million in funding, reflecting a significant increase of nearly 63% compared to two years earlier. Venture capital firm Accel is actively deploying capital from its seventh fund, which is valued at $650 million, and has already invested in five cybersecurity companies from this fund.
14. France
GCI Score 2021: 97.6
French cybersecurity startups are experiencing a notable increase in investments, bucking the trend of declining investments in startups globally. According to a report by Wavestone, the sector has secured $370.27 million in funding since 2022.
13. Canada
GCI Score 2021: 97.7
The Ontario Cybersecurity Excellence Initiative (OCEI) receives a joint investment of $8.8 million from the Government of Ontario and Rogers Communications back in August 2023. The initiative aims to enhance the province’s cybersecurity competitiveness and facilitate the adoption of cybersecurity technologies by industries. Leading these efforts for OCEI are the Canadian Cyber Threat Exchange (CCTX), a private non-profit organization, and Toronto Metropolitan University’s Rogers Cybersecure Catalyst.
12. Japan
GCI Score 2021: 97.8
Amazon Web Services (AWS) has announced plans to invest $15.24 billion in Japan by 2027 to enhance cloud computing infrastructure in the country. AWS is committed to supporting Japan in unlocking its cloud potential by addressing the digital skills gap through educational programs, training, and certification. Recent research commissioned by AWS and conducted by AlphaBeta indicates that cloud and cybersecurity expertise will be the most sought-after digital skills by Japanese employers by 2025. Since 2017, AWS has trained over 400,000 individuals in Japan in cloud skills, equipping them with essential knowledge and practices to drive innovation in the cloud.
11. Lithuania
GCI Score 2021: 97.9
A Lithuania-based cybersecurity startup, Cyber Upgrade, has successfully secured $705,708.25 in pre-seed funding in February 2024, to advance its mission of providing inclusive and accessible cybersecurity solutions for small and medium-sized enterprises (SMEs) and FinTech companies.
10. UAE
GCI Score 2021: 98.1
Most companies in the UAE are looking to boost their investment in artificial intelligence to improve their cybersecurity measures; 81% of chief executives in the Emirates recognize the importance of AI in their organizations’ cybersecurity strategy as of 2024.
9. Malaysia
GCI Score 2021: 98.1
79% of companies surveyed in Malaysia have indicated plans to boost their cybersecurity budget for the year 2023, making Malaysia the leading spender in the ASEAN region. This surge in financial commitment is a positive sign of Malaysia’s dedication to strengthening its cybersecurity posture. Moreover, a notable 33% of Malaysian organizations have seen a significant budget increase of over 50% compared to the previous year, demonstrating a growing emphasis on cybersecurity resilience. Additionally, 80% of board members in Malaysian businesses are actively engaged in regular discussions about cybersecurity, reflecting a high level of awareness and importance placed on this critical issue.
8. Russia
GCI Score 2021: 98.1
Russia has shown a strong dedication to cybersecurity by allocating significant resources to government-operated cyber units. These groups are known to conduct systematic industrial espionage and intelligence operations using a variety of techniques. Notably, the Russian government has meddled in elections and referendums, leaked sensitive information, and disrupted banking systems. Ukraine has frequently been a target for testing these tactics in the last decade.
7. Singapore
GCI Score 2021: 98.5
Organizations in Singapore are increasing their investment in cybersecurity. Growing focus on cybersecurity measures is seen, with nearly 87% of respondents expressing their plans to invest in or allocate funds for cybersecurity in 2024. This represents a notable increase from 72% in 2022.
6. Spain
GCI Score 2021: 98.5
In Spain, Microsoft is set to increase its investments in artificial intelligence (AI) and cloud infrastructure fourfold, with plans to spend $2.1 billion over the next two years. This initiative aligns with CEO Satya Nadella’s dedication to fostering digital innovation and promoting the responsible use of AI.
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Disclosure: None. 15 Countries with Cyber Warfare Capabilities is originally published on Insider Monkey.