The Australian Cyber Security Centre (ACSC) received approximately ** thousand cybercrime reports in the financial year 2023. The number of reports has increased in comparison to previous years, with approximately ** thousand cybercrime reports filed in the financial year 2022.  Recent data breaches  When surveyed about the actions they would take following a reported hack or data breach, more than ************** of Australian adults indicated that they would either pause or completely stop spending with a brand or organization in 2022. Less than ********* of respondents would continue spending with a brand but would be concerned. In 2022, the global average cost of a data breach was **** million US dollars. The average cost of a data breach in Australia was approximately *** million US dollars. Loss from scams  Victims of investment scams lost over *** million Australian dollars in 2021. In the same year, dating and romance scams cost Australians approximately ** million Australian dollars. False billing, remote access scams, and threats to life were also amongst the most reported scam types in Australia the same year. 

As of 2025, nearly 63 percent of businesses worldwide were affected by ransomware attacks. This figure represents a decrease on the previous year and was by far the lowest figure reported since 2020. Overall, since 2018, more than half of the total survey respondents each year stated that their organizations had been victimized by ransomware. Most targeted industries In 2024, the critical manufacturing industry in the United States was once again most targeted by ransomware attacks. Overall, organizations in this industry experienced 258 cyberattacks in the measured year. Healthcare and the public health sector ranked second, followed by government facilities, with 238 and 220 cyberattacks, respectively. Ransomware in the manufacturing industry The manufacturing industry, along with its subindustries, is constantly targeted by ransomware attacks, causing data loss, business disruptions, and reputational damage. Often, such cyberattacks are international and have a political intent. In 2024, exploited vulnerabilities were the leading cause of ransomware attacks in the manufacturing industry.

In the 2023 financial year, 30 percent of cybercrime incidents reported to the Australian Cyber Security Centre were from the state of Queensland. The second-highest share of reported threats was from Victoria.

In the 2022 financial year, over one quarter of cybercrime incidents reported to the Australian Cyber Security Centre were fraud related. The second highest share of reported threats were shopping related.

In the 2023 financial year, the average financial loss of cybercrime incidents reported to the Australian Cyber Security Centre by medium-sized businesses was around 97.2 thousand Australian dollars. Small businesses reported the lowest average financial loss of around 46 thousand Australian dollars.

In Australia in 2023, investment scams created total losses of over 291 million Australian dollars for victims. Around 34.3 million Australian dollars worth of losses caused by dating and romance scams were incurred that year.

In 2022 in Australia, around 984 reports of ransomware and malware attacks were made by people aged 65 and over to the Australian Competition and Consumer Commission, resulting in close to 1.7 thousand Australian dollars in money lost. Those aged under 18 reported the least number of attacks.

In 2024 in Australia, over 39 thousand reports of scam attempts to gain personal information were made by people aged 65 and over to the Australian Competition and Consumer Commission, resulting in over 13 million Australian dollars in money lost. The number of reports increased with age.

In 2023 in Australia, twothousand reports of malware and ransomware attacks via a text message were made to the Australian Competition and Consumer Commission, resulting in reported losses of 1.4 thousand Australian dollars. The highest amount of money was lost via phone. Reports made about text message malware and ransomware attacks were the most common.

According to Cognitive Market Research, the global Industrial cybersecurity market size will be USD 89241.8 million in 2025. It will expand at a compound annual growth rate (CAGR) of 10.50% from 2025 to 2033.

North America held the major market share for more than 40% of the global revenue with a market size of USD 33019.47 million in 2025 and will grow at a compound annual growth rate (CAGR) of 8.3% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 25880.12 million.
APAC held a market share of around 23% of the global revenue with a market size of USD 21418.03 million in 2025 and will grow at a compound annual growth rate (CAGR) of 12.5% from 2025 to 2033.
South America has a market share of more than 5% of the global revenue with a market size of USD 3391.19 million in 2025 and will grow at a compound annual growth rate (CAGR) of 9.5% from 2025 to 2033.
Middle East had a market share of around 2% of the global revenue and was estimated at a market size of USD 3569.67 million in 2025 and will grow at a compound annual growth rate (CAGR) of 9.8% from 2025 to 2033.
Africa had a market share of around 1% of the global revenue and was estimated at a market size of USD 1963.32 million in 2025 and will grow at a compound annual growth rate (CAGR) of 10.2% from 2025 to 2033.
The healthcare sector is expected to have the highest CAGR during the forecast period

Market Dynamics of Industrial Cybersecurity Market

Key Drivers for Industrial Cybersecurity Market

The surge in cybercrime cases propels the growth of the industrial cybersecurity market

The increase in the number of cybercrime cases is expected to drive future growth in the industrial cybersecurity market. Cybercrime refers to criminal activities that take place on computers, computer networks, or the internet and have serious consequences, such as financial losses, reputational damage, and legal penalties for criminals. Industrial cybersecurity is used to protect critical infrastructure and manufacturing operations from a variety of cybercrimes. It entails implementing strong security measures, threat detection systems, and incident response strategies to reduce the risks posed by cyber threats. According to the Australian Cybersecurity Centre, an Australian cybersecurity agency, cybercrime reports received in 2022 totaled 76,000, up 13% from the previous year. As a result, the rise in cybercrime cases propels the industrial cybersecurity market forward

https://www.exportfinance.gov.au/resources/world-risk-developments/2023/march/australia-small-businesses-vulnerable-to-rising-cybercrime/

Rising demand for industrial cybersecurity solutions drives market growth and job opportunities

The growing demand for industrial cybersecurity solutions and services is expected to propel the industrial cybersecurity market. Industrial cybersecurity solutions and services are a collection of technologies and services designed to secure every industrial layer while ensuring the operational consistency and continuity of industrial processes. The demand for industrial cybersecurity solutions across industries is increasing, as is the demand for advanced solutions such as firewalls, antivirus, and intrusion detection systems, which will propel the industrial cybersecurity market forward. For instance, the Bureau of Labor Statistics, a government agency based in the United States, predicts that demand for information security analysts will increase by 28% in 2022, creating 2.8k new jobs. Globally, industrial cybersecurity is expected to generate 3.5 million jobs by 2025. As a result, increasing demand for industrial cybersecurity solutions and services is propelling the market forward

Restraint Factor for the Industrial cybersecurity Market

Complexity of Securing Converged IT and OT Networks Limit Market Growth

One of the primary challenges in the Industrial Cybersecurity Market is the complexities of securing converged IT and OT networks. Traditionally, IT and OT systems operated independently, with separate security measures applied to each domain. However, as industries increasingly integrate IT and OT systems to improve operations, ensuring strong security across both environments becomes significantly more difficult. Traditional IT security solutions typically do not address OT systems' unique requirements, such as real-time performance and the need for l...

First-Party Cyber Crime Insurance Market Outlook

According to our latest research, the Global First-Party Cyber Crime Insurance market size was valued at $9.8 billion in 2024 and is projected to reach $38.2 billion by 2033, expanding at a robust CAGR of 16.5% during the forecast period of 2024–2033. One of the primary factors propelling the growth of this market globally is the exponential rise in sophisticated cyberattacks targeting organizations’ digital infrastructure, leading to a heightened demand for comprehensive risk transfer solutions. As businesses increasingly digitize operations and store sensitive data online, the financial and reputational risks associated with first-party cyber incidents—such as data breaches, ransomware, and business interruptions—have become more pronounced, compelling organizations across all sectors to seek insurance coverage tailored specifically to their needs.

Regional Outlook

North America continues to dominate the First-Party Cyber Crime Insurance market, accounting for the largest share of the global market value in 2024, with an estimated market size of $4.6 billion. The region’s leadership is largely attributed to its mature insurance ecosystem, high digital adoption rates, and stringent regulatory frameworks that mandate robust cybersecurity practices and reporting. The United States, in particular, has witnessed a surge in high-profile cyberattacks targeting critical infrastructure and large enterprises, prompting both public and private sectors to invest heavily in cyber insurance products. Additionally, the presence of leading insurance providers, advanced risk assessment technologies, and a proactive approach to cyber risk management have further solidified North America’s position as the epicenter of innovation and adoption in the first-party cyber crime insurance landscape.

Asia Pacific is emerging as the fastest-growing region in the First-Party Cyber Crime Insurance market, projected to register a remarkable CAGR of 21.3% during 2024–2033. This accelerated growth is fueled by rapid digital transformation across key economies such as China, India, Japan, and Australia, coupled with increasing awareness of cyber threats among enterprises of all sizes. Governments in the region are actively promoting cybersecurity initiatives, implementing data protection regulations, and encouraging businesses to adopt cyber insurance as a critical component of risk management. Furthermore, the burgeoning fintech and e-commerce sectors, combined with rising investments in cybersecurity infrastructure, are driving demand for tailored insurance solutions that address the unique challenges of the Asia Pacific digital economy.

In contrast, emerging markets in Latin America and the Middle East & Africa are experiencing more gradual adoption of First-Party Cyber Crime Insurance, primarily due to lower awareness levels, limited regulatory enforcement, and varying degrees of digital maturity. However, as cyber incidents become more frequent and severe, businesses in these regions are beginning to recognize the importance of first-party coverage for data breach, business interruption, and digital asset loss. Local insurers are collaborating with global players to develop region-specific products, while governments are gradually introducing policies to strengthen cyber resilience. Despite these positive trends, challenges such as limited access to cyber risk assessment tools, lack of standardized insurance products, and budget constraints among small and medium enterprises continue to hinder widespread adoption.

Report Scope

In July of 2023, over 317 reports of malware and ransomware attacks were made to the Australian Competition and Consumer Commission. Although the number of reports made in June was lower than in July, the amount lost was the highest that month, with over two thousand Australian dollars reportedly lost to malware and ransomware attacks in June.

In the 2022 financial year, 24 percent of cyber security threats reported to the Australian Cyber Security Centre were from Commonwealth Government agencies. The second highest share of reported threats were from state and territory and local government agencies.

Secure Mobile App Vetting for CJIS Market Outlook

According to our latest research, the Global Secure Mobile App Vetting for CJIS market size was valued at $1.2 billion in 2024 and is projected to reach $4.8 billion by 2033, expanding at a robust CAGR of 16.5% during 2024–2033. One of the primary drivers fueling this growth is the escalating need for robust cybersecurity and compliance frameworks within law enforcement and criminal justice agencies, particularly as mobile applications become integral to daily operations. The increasing sophistication of cyber threats, coupled with stringent regulatory mandates such as the Criminal Justice Information Services (CJIS) Security Policy, has made secure mobile app vetting essential for agencies handling sensitive data. These factors, combined with technology advancements and the proliferation of mobile devices in the public sector, are expected to significantly accelerate market expansion over the next decade.

Regional Outlook

North America currently commands the largest share in the Secure Mobile App Vetting for CJIS market, accounting for over 45% of the global market value in 2024. This dominance is underpinned by the region’s mature technology ecosystem, robust law enforcement infrastructure, and the early adoption of mobile security solutions. The United States, in particular, leads due to its comprehensive implementation of the CJIS Security Policy, coupled with substantial investments in digital transformation across federal, state, and local agencies. The high concentration of leading cybersecurity vendors and a proactive regulatory landscape further reinforce North America’s position as the market leader. As agencies increasingly migrate their operations to digital platforms, the demand for secure mobile app vetting solutions is anticipated to remain strong, with North America maintaining its leadership throughout the forecast period.

The Asia Pacific region is poised to witness the fastest growth, with a projected CAGR exceeding 19% between 2024 and 2033. This rapid expansion is attributed to significant investments in smart city initiatives, digital government programs, and the modernization of law enforcement agencies across countries such as China, India, Japan, and Australia. The growing emphasis on public safety, coupled with rising cybercrime rates, has prompted governments to prioritize secure mobile app vetting solutions that align with international standards like CJIS. Furthermore, the increasing penetration of smartphones and mobile applications in public sector operations is driving demand for advanced vetting technologies. Strategic collaborations between local agencies and global cybersecurity firms are also accelerating the adoption of these solutions, positioning Asia Pacific as a critical growth engine for the market.

Emerging economies in Latin America, the Middle East, and Africa are gradually embracing secure mobile app vetting for CJIS compliance, albeit at a slower pace due to budgetary constraints, limited technical expertise, and infrastructural challenges. In these regions, the adoption of mobile security solutions is often hampered by inconsistent policy enforcement and a lack of standardized frameworks. However, localized demand is rising as governments recognize the importance of safeguarding sensitive criminal justice information against evolving cyber threats. International aid, capacity-building initiatives, and the entry of multinational cybersecurity providers are beginning to bridge the technology gap, offering growth opportunities as these markets mature. Nevertheless, overcoming regulatory inertia and building awareness around CJIS standards remain critical hurdles to widespread adoption.

Report Scope

In 2023 in Australia, over 700 reports of ransomware and malware attacks were made to the Australian Competition and Consumer Commission by people in New South Wales, resulting in over 5.6 thousand Australian dollars in money lost. In Victoria, over 585 Australian dollars were reportedly lost to malware and ransomware attacks.

The Police and Firefighting Services industry is crucial to Australia’s safety and emergency response capabilities. The industry has faced a drop in revenue as budgets have tightened and population growth, urbanisation and the increasing complexity of crimes and emergency responses have driven up costs. As governments face competing demand across various sectors, funding for police and firefighting services has struggled to keep pace with these challenges, resulting in revenue falling by an anticipated 1.4% over the past five years despite growing service needs. Despite a decline over several years, revenue is expected to inch up 0.6% to $26.4 billion in 2024-25. This growth is primarily due to higher government allocations to satisfy an ongoing commitment to addressing public safety concerns amid population growth. Major sporting, cultural and political events often require additional police services. One-off natural disasters, like cyclones, catastrophic flooding and major bushfires, also raise demand for emergency services and boost funding for these not-for-profit organisations in the short term. Profitability is not a key factor in the Police and Firefighting Services industry, as it operates primarily as a public service rather than a profit-driven sector. Funded mainly by government budgets, with additional contributions from fines, insurance and donations, the focus is on ensuring public safety rather than generating profit. Any surplus funds are reinvested to improve services, infrastructure or technology rather than being distributed as profit. The industry is undergoing a transition to strengthen inter-agency cooperation, which is forecast to bolster the efficiency of disaster responses. Key initiatives like standardised communication systems, shared training and cross-agency equipment usage are set to improve coordination. As Australia’s population grows and extreme weather incidents become more frequent, demand for police and firefighting services is projected to climb. With greater government funding allocated to meet this demand, industry revenue is forecast to hike 1.6% annualised over the five years through 2029-30, reaching a total of $28.6 billion​.

The global cybersecurity market size is forecast to grow to 538.3 billion U.S. dollars by 2030. Cybersecurity is the practice of protecting computer information systems, hardware, network, and data from cyberattacks. An increasing awareness of cyber threats lead to a rising investment in cybersecurity infrastructure worldwide.

Cyberattacks

In the modern information age when more and more things are getting connected, cybersecurity becomes an ever-relevant topic. Major data breaches, such as the 2014 hacking of Yahoo’s online platform, saw hundreds of millions of accounts being affected. Today, potentially AI-enabled phishing and network intrusion are some of the most common cyberattacks experienced by organizations, causing serious damages including information or revenue loss.

Market segments

The information security market includes subsegments such as identity access management (IAM), infrastructure protection, and security services. Global security spending on IAM is forecasted to reach over 20 billion U.S. dollars in 2023. Spending on security services, the largest segment of the information security market, is projected to reach nearly 76.5 billion U.S. dollars in the same year.

Mining Site Security Market Outlook

According to our latest research, the global mining site security market size reached USD 11.2 billion in 2024, reflecting the growing importance of robust security solutions in the mining sector. The market is projected to expand at a CAGR of 7.4% from 2025 to 2033, reaching a forecasted value of USD 21.4 billion by 2033. This surge is primarily driven by the increasing incidents of theft, vandalism, and cyber-attacks at mining sites, coupled with the rising adoption of advanced security technologies and regulatory mandates for safety and asset protection.

The growth of the mining site security market is underpinned by several critical factors. Firstly, the mining industry is experiencing a technological renaissance, with automation, IoT, and digital transformation initiatives being widely adopted. These advancements, while increasing operational efficiency, also expose mining operations to new security vulnerabilities, both physical and cyber. As a result, mining companies are investing heavily in integrated security systems that combine surveillance, access control, and cybersecurity to safeguard valuable assets, personnel, and sensitive data. Additionally, the expansion of mining activities into remote and politically unstable regions has heightened the demand for robust security infrastructure to counteract risks such as theft, illegal mining, sabotage, and unauthorized access.

Another key driver is the stringent regulatory landscape governing mining operations worldwide. Governments and industry bodies are enforcing strict guidelines for health, safety, and environmental protection, compelling mining companies to implement comprehensive security solutions. Compliance with these regulations not only mitigates legal and financial risks but also enhances the reputation and operational continuity of mining enterprises. Furthermore, the increasing value of extracted resources, especially rare earth metals and precious minerals, has made mining sites lucrative targets for organized crime and cybercriminals, thereby intensifying the need for multi-layered security frameworks.

The proliferation of advanced technologies such as artificial intelligence, machine learning, thermal imaging, and drone surveillance is revolutionizing the security paradigm in the mining sector. These innovations enable real-time threat detection, predictive analytics, and rapid response mechanisms, significantly reducing the likelihood of security breaches. In addition, the integration of security systems with centralized command centers and mobile platforms allows for seamless monitoring and management of multiple mining sites, regardless of their geographic location. The growing trend of digitalization and the need for uninterrupted mining operations are expected to further fuel the adoption of sophisticated security solutions over the forecast period.

From a regional perspective, Asia Pacific leads the mining site security market, accounting for the largest revenue share in 2024, followed by North America and Europe. The dominance of Asia Pacific is attributed to the region's vast mining activities, particularly in China, Australia, and India, coupled with significant investments in mining infrastructure and security modernization. North America is witnessing steady growth due to technological advancements and stringent regulatory compliance, while Europe is characterized by a strong focus on sustainability and risk management. The Middle East & Africa and Latin America are emerging as high-growth regions, propelled by increasing mining investments and the need to address security challenges in remote and volatile environments.

Component Analysis

The component segment of the mining site security market is categorized into hardware, software, and services. Hardware components, including surveillance cameras, sensors, access control devices, and alarm systems, constitute the backbone of physical security infrastructure at mining sites. In 2024, hardware accounted for the largest share of the market, driven by the widespread deployment of advanced surveillance and perimeter protection systems to deter unauthorized access and monitor vast mining areas. The adoption of ruggedized and weather-resistant hardware solutions is particularly prominent in harsh mining environments, ensuring reliable performance and minimal downtime.

Software solutions play a pivotal role in enhancing the eff

The 2020 Cyber Security Strategy, released by the Australian Government, indicated that a total of **** billion Australian dollars was committed to funding Cyber Enhancement Situational Awareness and Response (CESAR). CESAR is a package designed to support the Australian Government in the identification of cyber threats, disrupt cyber crime, and build partnerships with industry and government.

As of September 2022, around **** million Australian dollars had been lost in online shopping scams in Australia. In 2021, over eight million Australian dollars had been reported as being lost through online shopping scams.