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Cybersecurity threats only continue to mount. According to Cybercrime magazine, Global cybercrime damage in 2021 amounted to $16.4 billion daily, $684.9 million an hour, $11 million per minute, and $190,000 per second.
These statistics are concerning. However, with Mordor Intelligence reporting the global cybersecurity market valued at $132.94 billion in 2021 and with an expected worth of $352.25 of billion, and anticipating an annual growth rate of 14.1%, by 2026, there is a tremendous amount of opportunity for innovative business growth.
The growth potential is so significant that the Pittsburgh Regional Alliance identified Cybersecurity as one of six key Pittsburgh industries that are not only thriving but are driving the region’s future.
High bandwidth fiber network providers play an important role in the Cybersecurity industry in the region. Ensuring Cybersecurity companies have access to safe, reliable high fiber network providers is vital to attracting new companies to the region, as well as supporting the growth of existing companies.
Critical infrastructure provided by network providers can include features such as DDoS Mitigation services which help to detect and mitigate attacks. Cybersecurity companies require network services that are scalable and provide bandwidth that can meet the needs of small start-up businesses, as well as thriving companies requiring maximum bandwidth speeds.
Additionally, access to dark fiber networks increase security and reliability and provides ultimate control of the bandwidth level and data that is transmitted through a network that is individually managed by the client.
A glance at the Business Time’s July 2021 list of Largest Pittsburgh-area Cyber Security Firms provides a fascinating and thorough overview of the types of Cybersecurity Services and activities provided in the region.
The assortment of services includes:
The services offered are as varied as the companies themselves, and the security threats that are constantly popping up on the digital horizon.
Recent Pittsburgh developments in the Cybersecurity field support the notion that our region has the necessary infrastructure to sustain and grow the industry.
At the end of March 2022, Cybersecurity startup HackEDU announced it had moved its headquarters from Santa Monica, California, to the Strip District in Pittsburgh. According to HackEDU’s Chief Marketing Officer, top company leadership was “familiar with the technology scene here and all the talent available to us, which is why it made it obvious to move the headquarters of the business here.”
In addition to the 18 current open positions, HackEDU will be seeking to double its workforce over the next year. Perhaps the most exciting aspect of HackEDU is its focus – providing secure code training. The company has identified a critical gap in developers’ skillset – 53% are not trained in secure coding.
Also, in late March 2021, Oakland-based ForAllSecure, providers of an autonomous application security testing solution, announced that they had secured $21 million Series B funding. The funds will support the company’s product line and workforce expansion efforts over the next 18 to 24 months.
Lastly, rounding out a busy month of March, Carnegie Mellon University’s CyLab Institute welcomed a new partner, Crypto.com, into a three-year strategic relationship. Crypto.com will serve as the founding sponsor of CyLab’s Secure Blockchain Initiative, known as Blockchain@CyLab.
The initiative will take on significant research challenges in blockchain technologies, including consensus mechanisms and scalability; cryptocurrencies and markets; cryptography; formal verification; and regulation, policy, and governance.
Pittsburgh is well-positioned to support the continued growth of the industry and welcome new startups and relocating businesses. The challenges of Cybersecurity will only grow, requiring new approaches to new problems.
The region’s colleges, universities and trade schools are preparing the talent. According to U.S. News and World Report, Carnegie Mellon University (CMU) ranks as one of the top computer science school in the U.S . The University of Pittsburgh has an institute for cyber law, policy and security. Known as Pitt Cyber, it “provides a unique interdisciplinary environment for tackling cyber challenges.” Pittsburgh Technical College (PTC) has been named a National Center of Academic Excellence in Cyber Defense Education (CAE-CDE) by the NSA and the Department of Homeland Security.
Of course, having a widely available, supportive, innovative, fast fiber network is key to ensuring the Cybersecurity industry in Pittsburgh can meet the needs of its consumers.
Interested in learning how we can increase and support your cybersecurity health with secure fiber-optic network solutions? Connect with us today.