Cybersecurity in Switzerland and Lichtenstein
Executive summary
The Swiss market is growing fast with key opportunities for cyber security solutions in critical infrastructure protection and commercial sectors. This is due to Swiss companies turning towards managed security services, especially because of the serious deficit of skilled workers in the security sector. A 'National strategy for Switzerland's protection against cyber risks' was created to address the threat of cybercrime.
Further, the COVID-19 pandemic and subsequent teleworking culture has transformed the way cyber security is viewed by Swiss companies. The rise in communications and the shift to operate business processes from distance have at the same time gave rise to the risk of cyberattacks by an order of magnitude.
The adoption of machine-to-machine communication and IoT connections demands enhanced cybersecurity in organizations. This is driving the market, as new business models and applications are coupled with declining device costs, which have been key in driving the adoption of IoT, and the number of connected devices. In the first half of 2021, the National Cybersecurity Centre of Switzerland (NCSC) registered around 25% more reports of cyber incidents than in the previous 6 months. In order to remain ahead in the race against complex threats, many providers are expanding their Security Operation Centers (SOCs) into comprehensive cyber defense centers.
The biggest cybersecurity field in Switzerland is network security. A recognized center of expertise in the area of Internet Governance with central Internet Society organizations, International Telecommunication Union (ITU) and the Secretary of the Internet Governance Forum are located in Geneva. More than 50 percent of the global internet activities are domiciled here. Additionally, data and intellectual property have become important and in some cases significant corporate assets for Switzerland's and Liechtenstein's strong financial industry. Switzerland is particularly vulnerable to cyber attacks because of its high-tech infrastructure and financial services sector. These elevated risks are further driving the number of Swiss cybersecurity start-ups and subsequently generating a hotbed of innovation in Switzerland.
For a full copy of this market profile, please contact:
Michael.schindele@international.gc.ca and Zinnia.Jamshed@international.gc.ca.
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