Israeli cyber security exports grew 10% in 2015

cyber security

At least $3 billion worth of cyber security products and services were sold abroad in 2015.

It is possible to see the significance of the Israeli cyber industrys contribution to the GNP by looking at figures published by the Israel Export Institute throughout the second half of 2015. According to the institute, the total sum of cyber security software and services export from Israel stood at $3 billion in 2014 with a major portion going to the US, the primary destination for the industry as a whole.

The 2015 figures have yet to be released but they are expected to show a 10% growth from last year meaning more than $3 billion worth of products and services were exported in 2015. Israel is continuing to solidify its position as a cyber power, and the growing number of Israeli startups sold at a premium is proof of that development.

There are some 300 companies in Israel working in the cyber sector, with the largest undeniably Check Point likely the best model to copy for all starting cyber firms. Checkpoint which is traded in the US at a valuation $14.2 billion earned revenue of $1.2 billion for the first three quarters of 2015, cementing its significant contribution to Made in Israel cyber exports.

Published by Globes [online], Israel business news - www.globes-online.com - on January 14, 2016

Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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