Image courtesy of Mirage News
Australia's cybersecurity market, which currently contributes A$2.4 billion to GDP, is projected to grow to over A$7 billion by 2027 as demand surges following a series of high-profile data breaches and tightening federal regulation for critical infrastructure operators. A cybercrime is reported in Australia every 7 minutes, with 76,000 incidents logged in the 2021-22 financial year — a 13% increase from the prior year — and 60% of Australian companies plan to increase cyber budgets in 2023. The piece frames the threat environment as a major commercial opportunity for cybersecurity solution providers entering the Australian market.
