04 Mar Federal Security Report Q4 2015
Federal Security Report
SPECIAL REPORT FROM THE EDITORS AT CYBERSECURITY VENTURES
The Federal Security Report provides U.S. federal sector cybersecurity market sizing, forecasts, trends, statistics, best practices, and resources for chief information security officers (CISOs) and IT security staff.
U.S. Federal Government has spent $100 billion on cybersecurity over the past decade, $14 billion budgeted for 2016.
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- With a cumulative market valued at $65.5 billion (2015 – 2020), the U.S. Federal Cybersecurity market will grow steadily at about 6.2 percent CAGR, according to a report from Market Research Media, Ltd. The report states “the annual cyber security spending of the US Federal government is bigger than any national cyber security market, exceeding at least twofold the largest cybersecurity spending countries.”
- Demand for vendor-furnished information security products and services by the U.S. federal government will increase from $8.6 billion in FY 2015 to $11 billion in 2020 at a compound annual growth rate (CAGR) of 5.2 percent, according to “Deltek’s Federal Information Security Market Report” – which examines the trends and drivers shaping the federal information security marketplace and provides a forecast for the next five years.
- Deltek states that as federal agencies struggle to stay ahead of the cybersecurity threats, more and more of their IT spend is being devoted to cybersecurity, reaching over 10 percent of IT spend by 2020.
- In an effort to combat the growing threat of cybercrime, the U.S. Department of Homeland Security (DHS) increased its cyber security budget 500 percent during the past two years; and President Obama included $14 billion for cyber security spending in his 2016 budget, according to GCN.
- In an effort to help replace the password as our primary means of security online – through the National Strategy for Trusted Identities in Cyberspace – the U.S. Government has invested more than $50 million over the past four years to advance the Multi-Factor Authentication market in partnership with the research and development community and technology firms.
- TIME recently reported that the U.S. Director of National Intelligence ranks cyber crime as the No. 1 national security threat, ahead of terrorism, espionage and weapons of mass destruction. The TIME article said the federal government suffered a staggering 61,000 cyber-security breaches last year alone.
- Reuters recently reported that nearly every U.S. weapons program tested in fiscal 2014 showed “significant vulnerabilities” to cyber attacks, including misconfigured, unpatched and outdated software, according to the Pentagon’s chief weapons tester in his annual report.
- Earlier this year The White House announced it will establish a new Cyber Threat Intelligence Integration Center, or CTIIC, under the auspices of the Director of National Intelligence. Currently, no single government entity is responsible for producing coordinated cyber threat assessments, ensuring that information is shared rapidly among existing Cyber Centers and other elements within the government, and supporting the work of operators and policymakers with timely intelligence about the latest cyber threats and threat actors. The CTIIC is intended to fill these gaps.
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- At the RSA Conference earlier this year, the U.S. Department of Homeland Security (DHS) announced they are opening a Silicon Valley office. According to a recent Fortune article, the office is a bid to improve relations between tech companies and the government, spread the government’s ideology on cybersecurity throughout the tech industry, and recruit top talent that might otherwise head to the private sector.
- A recent San Jose Mercury News story signaled Silicon Valley’s importance in cyberwarfare stating “In one of the most overt displays of the federal government’s growing dependence on Silicon Valley, the Department of Defense late last month announced it will start providing venture capital funding to valley startups that can help the Pentagon develop more advanced cybersecurity and intelligence systems to fend off nation states and hackers targeting everything from top-secret military correspondence to public power grids.”
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Steven C. Morgan, Editor-In-Chief
- is Founder and CEO at Cybersecurity Ventures, and Editor-In-Chief of the Cybersecurity Market Report and the Cybersecurity 500 list of the world’s hottest and most innovative cybersecurity companies. Steve writes the weekly Cybersecurity Business Report for IDG’s CSO, and he is a contributing writer for several business, technology, and cybersecurity media properties.
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