The government has committed £22 billion to improve the UK’s cybersecurity. Stotles has produced a report that highlights the specific opportunities emerging for cyber suppliers and the concrete methods they can use to pre-engage with the public sector.
Some of the key points to note from the report have been pulled out here.
The government stated in the 2021 Spending Review that it will be investing £2.6 billion into cyber and legacy IT systems over the next three years. This amount far exceeds the £1.9 billion over a five-year period committed in the previous strategy (2016-2021).
Stotles has provided an overview of cyber funding amongst central, local and healthcare organisations, placing a spotlight on HMRC and The Department for Health and Social Care.
Major government buying activity to track
It has found that as the need for cybersecurity services continues to multiply across government organisations, the market’s leading suppliers are spending more time monitoring and acting on buyer activities.
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Stotles used its data to analyse historical cybersecurity purchasing behaviour of government organisations so suppliers can qualify future potential opportunities. Unsurprisingly, it found that central government organisations are the most active cybersecurity buyers.
The chart below illustrates the cybersecurity procurement activity of central government organisations based on publicly reported contracts, over the last seven years.
Stotles analysed various keyword topics relating to cybersecurity in titles and descriptions of contract data between 2016 and 2021, picking a sample of the most popular terms to indicate key areas of cyber procurement.
Most notably, it found 171 references to ‘Identity and access management’ solutions, indicating the significant demand that the public sector has had for these solutions and their importance in government cybersecurity strategies.
Huge budgets are being allocated to cybersecurity initiatives across the public sector, most notably in central government, local government and healthcare. For a comprehensive analysis on the monumental opportunities involved, download Stotles’ free report.