EXTEND SINGAPORE’S
CYBERSECURITY
ADVANTAGE
The Government is committed to building up Singapore’s cybersecurity industry.
Besides ensuring that best-in-class cybersecurity solutions are available to
the Government and companies in Singapore, a vibrant cybersecurity industry
will enhance Singapore’s traditional strengths in areas such as financial and
infocomm services. These developments will translate to better job opportunities
for cybersecurity professionals in Singapore.
To build a vibrant cybersecurity industry, Singapore will:
Attract and anchor companies with advanced capabilities in Singapore to
inject know-how and dynamism into the local cybersecurity community;
Support start-ups to boost the development of niche and advanced solutions;
Partner with local companies that possess strategic cybersecurity
capabilities to develop advanced solutions for Singapore; and
Develop opportunities for made-in-Singapore solutions in the
global market and facilitate access to new market segments.
%
nd
pou
Com
Market Value (Million S$)
Singapore is home to many leading global cybersecurity companies and an
emerging cluster of local start-ups. The cybersecurity market in Singapore is
worth about S$570 million today, based on estimates by PwC. It has the potential
to double in value by 2020, with growth in segments such as identity access
management, infrastructure protection and services. Singapore is well positioned
within ASEAN and its population of 625 million to support the growing demand
for cybersecurity products and services.
al
nnu
th
w
Gro
.3
f9
eo
Rat
A
216
201
188
Estimated
growth of
Singapore’s
cybersecurity
market,
2015-2020
176
163
154
617
417
464
511
673
562
LEGEND
Cybersecurity Services
(e.g. IT outsourcing, consulting)
Cybersecurity Products
(e.g. Identity access management,
network security equipment)
Source: PwC analysis, Gartner, PwC interviews, desk research.
Attract and Anchor
Advanced Capabilities
The Government will leverage Singapore’s
economic hub status and attract world class
cybersecurity companies to base advanced
operations, engineering and R&D activities
in Singapore. This will increase our access
to cutting-edge cybersecurity capabilities
and create good jobs for Singaporeans.
The Government will also work with these
top companies and local champions to
strengthen the cybersecurity of our critical
sectors and facilitate knowledge exchange
to build up local expertise.
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CHAPTER 3
Support Start-ups
Singapore’s cybersecurity ecosystem will
benefit from more start-ups that diversify
the industry and boost the development
of niche and advanced solutions. The
Government and industry will work
together to support a strong network
of venture capitalists, accelerators and
entrepreneurs to help Singapore-based
cybersecurity start-ups to grow and scale.
This will assist in bringing ideas to the
market easily and quickly.
Grow Local Cybersecurity Champions
The Government will grow local
cybersecurity champions who can
develop globally competitive capabilities
in strategic areas of interest and sustain
the long-term growth of a competent,
professional workforce. The “Partnership
for the Advancement of the Cybersecurity
Ecosystem” (PACE) programme, initiated by
CSA in 2016, is an example of a meaningful
public-private partnership that co-develops
customised solutions with industry partners
for raising our cybersecurity posture while
supporting workforce skills development.
Develop Market Opportunities
We will facilitate access to new market
segments for our cybersecurity companies
and promote Made-In-Singapore solutions.
Government and industry will collaborate
to set up a cybersecurity resource centre
for users to explore and adopt innovative
solutions. Together, we aim to bring
Singapore’s cybersecurity capabilities
to the global market.
CHAPTER 3
39