LOCAL COMPANY PUSH IN CYBERSECURITY

The cybersecurity market in Turkey is expected to reach a size of 344 million dollars by 2025. The presence of local companies in the market is increasing. These companies, which are also expanding internationally, aim to become global players with the projects they develop.

The cybersecurity market continues to grow and evolve despite the skills gap. According to IDC, Turkey's security solutions market is expected to steadily grow and reach 344 million dollars by 2025. According to the "Global Cybersecurity Outlook 2024" report prepared by the World Economic Forum, the cybersecurity market showed much faster growth globally in 2023 compared to the overall economy. This growth is driven by tensions in certain regions, the rapid adoption of new technologies, and increased awareness of cybersecurity risks at the executive level. The report highlights that critical infrastructures, including public services, transportation, healthcare, and energy, are among the primary targets for cyber attackers due to their significant roles in public safety and national security.

THERE ARE OPPORTUNITIES FOR STARTUPS

According to research, Turkey is among the top five countries most targeted by cyberattacks. It is stated that cybersecurity will pose a significant risk in the list of actions to be taken after an earthquake, and therefore, an exit strategy should be in place. Similarly, the energy sector is also highlighted as one of the risky sectors. Additionally, it is emphasized that the financial services sector, including banking and insurance, is under significant threat. While the market offers such vast potential, the presence of local companies in the sector is also increasing. In this regard, companies operating within both private and technopark ecosystems are offering security solutions in this field. Especially in the areas of machine learning, artificial intelligence, and the Internet of Things, there are substantial opportunities for startups in cybersecurity. In this article, we explore the investment plans of companies operating in Turkey and rapidly growing abroad.

AIMING FOR MARKET LEADERSHIP

Kafein Technology’s All-in Cyber, established to meet the cybersecurity needs of the industry and provide services and solutions to organizations, serves numerous local and global companies across various sectors in Turkey, including telecommunications, finance, insurance, tourism, energy, manufacturing, and retail. Sefa Merve Ağlaç, Director of All-in Cyber, stated that they aim to strengthen their presence by offering consultancy services in Europe and the Middle East. One of their medium-term goals is to become a trusted partner in the Middle East, particularly in cloud security solutions. Ağlaç emphasized that they continue to make significant investments in resources and training, elaborating on their growth plans: "We have started developing our own local, national products in the field of application security solutions. We have established a dedicated department and team for cloud security solutions. We’ve started projects with flexible local institutions and in the Middle East regarding regulations. By investing in a local product in operational technology security solutions, we aim to be a leading player both in Turkey and internationally."