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Cybersecurity spend to top $101bn by 2020

DUBAI, May 7, 2017

Global organisations worldwide will spend $101.6 billion annually on cybersecurity software, hardware and services by 2020 compared with spending of $73.7 billion in 2016, according to research from the International Data Corporation (IDC).

The report comes ahead of the 4th Gulf Information Security and Conference (Gisec) at Dubai World Trade Centre (DWTC) from May 21 to 23. The event runs concurrently with the Internet of Things Expo (ioTx).

The world’s leading IT providers will showcase their latest solutions and discuss new avenues to explore investment, knowledge sharing and collaboration at Gisec 2017.

“Organisations globally, and in the region, are focusing more and more of their attention and budgets on cybersecurity by establishing robust security frameworks that help minimise the risk of security breaches,” said Trixie LohMirmand, senior vice president, Exhibitions & Events Management, DWTC.

“Gisec plays a pivotal role in bringing experts and industry professionals together to network, share insights and provide best practices to help governments and companies tackle the rising concern of cybersecurity.”

A 2016 Fortune 100 report said that almost a quarter (23) of the world’s 100 fastest growing companies come from the technology sector. With IT security now big business, more than 100 leading IT companies have confirmed their participation at Gisec 2017.

Highlights of the tech extravaganza will see Dubai Police launch its first fully-functional ‘Robocop’ at the Internet of Things Expo (ioTx). The Android-based robot is equipped with face-recognition technology and will be used by members of the public to report crimes and pay traffic fines. Additionally, Hyperloop Transportation Technologies (HTT) will showcase its futuristic transportation plans and give visitors a real-life, high-speed travelling experience with its VR simulation of a Hyperloop journey.
Among those showcasing their expertise and discussing cybersecurity techniques is Infowatch, a leading security software and solutions provider. Natalya Kaspersky, President of Infowatch and co-founder of Kaspersky Lab, will also take part in one of Gisec 2017’s key sessions, a panel discussion entitled ‘Redefining Governments’ Role in Cybersecurity: What’s NEXT for Smarter and Safer Cities’.

“Organisations have to deal daily with a variety of tasks focused on managing informational risks associated with internal security threats,” Kaspersky said. “As a company that provides comprehensive technologies and services dedicated to protection against cyberattacks and data leakages, we are excited to be sharing our market knowledge with regional and global business at Gisec 2017.

“In addition to discussing the state of the information security market in the Middle East and the growing attention state authorities and companies are placing on this critical issue amid an intensification of cybersecurity threats, we look forward to sharing the general strategy for Infowatch’s development in the Middle East market and beyond.”

DarkMatter, the international cybersecurity firm headquartered in the UAE, and Cybersecurity Innovation partner of Gisec, will play a crucial role in the prestigious conference.

Faisal Al Bannai, Founder and CEOof DarkMatter, said: “Safeguarding systems and information is of critical importance for organisations in both the public and private sector. At Gisec, we are keen to highlight the importance of developing cyber security resilience, which is a concept rooted in proactive assessment, monitoring and response to cyber threats. We are keen to advise companies on why it is vital to invest more and wisely in end-to-end security for a better and more secure future.”

Among the highlights of this year’s Gisec are: ‘Market Labs’, live demonstrations on the most advanced security and IoT solutions from a host of leaders; ‘Future-Tech Zone’, featuring ground-breaking technologies including the ‘Hyperloop’ project and Dubai Police’s very own ‘RoboCop’ among others; the ‘Buyers’ Lounge’, where guests can discuss RFPs with industry experts and gain invaluable advice on solutions; and the all-new ‘Startup Zone’ supported by Smart Dubai, which features 40 of the most innovative startups based, or incubated, in the UAE.

With a dedicated conference session entitled ‘Industry 4.0 – The Fourth Industrial Revolution’ exploring the latest trend of automation and data exchange in manufacturing technologies, another UAE-based market leader, DigiRobotics Technologies, will use live robots to demonstrate the capacity for machines and people to communicate via Internet of People (IOP).

“We will provide an opportunity for visitors to experience robots in action by demonstrating smart factory automation solutions, smart robotic manufacturing technologies and the implementation of AGVs (autonomous guided vehicles),” said Svitlana Voznyuk, marketing director, DigiRobotics Technologies.

Gisec 2017 will host more than 500 international delegates and 75-plus high-profile speakers from entities including GCHQ, the UK Government’s Communications Headquarters, the US Cyber Consequences Unit, HSBC, EasyJet, Wells Fargo and GSK among others. More than 6,000 visitors are expected across the three-day events. – TradeArabia News Service

Tags: Gisec | cybersecurity |

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