Increased Cyberattacks in Canada Offers Opportunities for U.S. Cyber Security Technologies.
Cyber attacks are increasing as more of our daily lives are digitized. U.S. exporters of cyber technology and services can fill this growing need for cybersecurity solutions in Canada.
Cybersecurity technologies are in high demand in the Canadian Federal government. Canada’s digital spy agency, the Communications Security Establishment (CSE), responded to more than 2,000 attacks on the federal government and its critical infrastructure partners last year. In response to these ongoing threats, Canada has issued a National Cyber Security Strategy and the National Cyber Security Action Plan (2019-2024).
In the private sector, there are opportunities across all sectors. According to data collected the average cost of a data breach for Canadian companies is approximately US$4.4 M per incident; representing approximately $500K more than the global average of US$3.92 M. Opportunities for niche products also exist in specific sectors including the manufacturing sector, automated automobile development, critical infrastructure & construction, the airline industry and financial services sector.
As part of the Roadmap for a Renewed U.S.-Canada Partnership, Canada and the United States will increase cooperation to strengthen cybersecurity. As part of their efforts to protect critical infrastructure in North America, the two countries will implement a Framework for Collaboration on Cybersecurity in the Energy Sector to enhance the security and resiliency of our cross-border energy infrastructure.