Cybersecurity Market in Turkey21 November, 2017
The system of networks that enable the distribution and usage of information, which today we name internet, is a house with countless doors and windows of various functions. The doors open to a world of its specific nature, a universe of information, so to say. All these doors and windows are unlocked by the infinite number of keys that are owned by individuals or collective bodies, although some of them are designed for free entry, the keys are all custom-made for each entry. However, the fact that these doors have keys peculiar to each one of them, does not indicate that there are no other keys which can unlock the doors. A key can be obviously replicated in the physical sense as well as especially in a digital sense. The door can be broken by enormous pressure, by deception of the owner of the key or even by going around the backdoor which may be manipulated easier than the front door. This activity of unauthorized entry is called cybercrime and the service of protection against it is called cybersecurity.
Development of internet, enabling to the simple and costless exchange of information and its activities, led to an almost fully integrated global economy. From most complicated trading transactions to the simplest shopping activities, any kind of operation which actors of the market used to do physically and costly, has become really fast. On one hand, this development has increased the efficiency and profits earned by businesses; on the other hand, as it happens with all emerging markets, its breaches of security and reliability have expanded maybe on a more of a large ground. Aside shopping, it has become easier to steal; aside communicating most private information to another, it has become yet more effortless to reach the private information.
As markets give birth to other markets, this progress gave birth to the market of cybersecurity and its very focus and operations are driven by cybercrime.
In a global economy that has been actualizing its full integration into virtual and digital systems through the costless and time-saving function of the internet, no business can survive without protection for its operations, tangible assets, and especially intangible ones. That ascribes the market of cybersecurity an inevitable occupation and infinite space of expansion. In 2004, the global cybersecurity market was worth $3.5 billion; by 2022, it is forecast that cybersecurity market will grow to be worth $231.94 billion. There seems to be a clear development in value and expansion in reputation.
Turkey, in contrast to Europe and USA, owns more of a developing market regarding the operations of the companies that have been with the utmost speed integrating their business applications into virtual spaces. Turkish companies are obliged to themselves to keep up with the global markets. That is why, they are dependent on technological innovations, such as enterprise software, logistics, and supply chain systems and relevant databases. Any financial system storing any kind of private information, such as credit card information, carries a stake of high risk. Taking into consideration the rising popularity of start-ups and its business culture, the Turkish market has a huge potential for cybercrime. As cybersecurity cannot be described as a side investment for a business but rather a necessity for the protection of the livelihood of the business in question, any investment in the Turkish market regarding cybersecurity promises a great deal of expansion and profit. With the appropriate kits of right choice, a smart investment in the field can lead to the domination of the country’s developing sector, as many tech sectors like this one proved to promise good deals of profit.
From the beginning of 2010, Turkish government started forming bodies that are intended to fight cybercrime, because of all aside, also governmental information is very sensitive to any revelation. Telecommunications Authority, which was founded in 2000, has been contributing to the issue and problems of the cyber world ever more since its forming into Information and Communication Technologies Authority. Furthermore, under the aforementioned authority, Cyber Security Board was established in 2012, to determine necessary cybersecurity measures to be taken, to prepare and implement plans and programs in the field. Along the way, the Scientific and Technological Research Council of Turkey undertakes the duty of determining the roadmap and building the critical infrastructure in cybersecurity. Thereon, the government through these agencies has also been encouraging professional enterprises which can help them secure the roads to the foundation of its future state of the market. Besides, this mentality definitely indicates the security of investment on rational/legal grounds.
The cybersecurity companies of the current market in Turkey seem to be highly diverse and to have vague descriptions of services they deliver. Through the incentives of government and a few investors, research and development in the area are rapidly growing. Government encourages education centers to train qualified individuals. By the support of Science, Industry and Technology Ministry, so far, there have been founded 66 Technology Development Sites, of which 55 are currently active and rest are still in development phase. The aim is to be autonomous, capable and self-sufficient nation and economy-wide in the near future. As it is evident with the consulting, private equity, banking and technology sector of the country, companies residing in Turkey frequently deal with business in Asia and Arabian Peninsula, pointing to an international space of recognition.
Furthermore, aerospace and defense segments of cybersecurity market is estimated to have the largest share of the market in 2017 globally. Here, what draws the attention is the recent statements of the Turkish government about the incentives for the development its national defense sector. Focused cybersecurity professionals of vocation have the ability to contribute a huge deal of information and implementation, with the necessary and wisely designated funding plans.
It is clear that seizure of the opportunity is very much promising, especially while it is concerned about an indispensable aspect and instrument of modern way of making business. Moreover, an emerging cybersecurity market, as found in Turkey, denotes a promising investment incentive, as well as affirming a reliable environment to be actualized in. Important thing to keep in mind here, is then, that the window of opportunity is not about to close, but is definitely halfway there.