Region set to spend $9.5 billion on cyber security

July 1, 2015

MUSCAT: An estimated $9.5 billion is expected to be spent by regional governments on cyber security by 2019 as governments and enterprises collaborate to implement strict laws and regulations for securing networks, says a recent report.

A recent MarketsandMarkets report has quoted experts as saying that regional governments see cyber-crime as a growing threat and together are set to invest heavily on cyber security over the next four years.

An industry on the rise, a recent report from Pricewaterhouse Coopers indicated a staggering 42.8 million information security incidents reported globally in 2014, up 48 per cent from the previous year.