The Israeli Cyber Security industry continued its growth trend in 2023 and hang new records in each and every field.
The National Cyber Security Authority (NCSA), located inside the Prime Minister’s office, was an Israeli security entity accountable for protecting the Israeli civilian cyber space, during 2023-2023. The NCSA provided incident handling services and guidance for those civilian entities in addition to all critical infrastructures in the Israeli economy, and works towards enhancing the resilience from the civilian cyberspace.
At the end of 2023, the Israeli government decided to merge the NCSA with the Israeli National Cyber Bureau (established this year), the system in the Prime Minister’s Office , which served because the government’s cyber policy Bureau, into one unit – the National Cyber Directorate
The Israel National Cyber Directorate is the national security and technological agency accountable for defending Israel's national cyberspace and for establishing and advancing Israel's cyber power. The Directorate operates at the national level to constantly strengthen the level of defense of organizations and citizens, to avoid and take care of cyberattacks and also to strengthen emergency response capabilities. As part of its roles, the Directorate advances innovative cyber solutions and forward-looking technological solutions, formulates strategies and policies in the national and international arenas and develops its cyber manpower. The Directorate strives to keep a protected, safe and open cyberspace for all of Israel's citizens and to facilitate your Israel's growth and power base, ss written on gov.il on Israel National Cyber Directorate.
Written further, The Israeli Cyber Security industry continued its growth trend in 2023 and set new records in each and every field. Data gathered and processed through the Israel National Cyber Directorate (INCD) implies that compared to 2023, the amount of funds raised by the Israeli cyber security industry tripled and reached an archive quantity of approximately $8.8 billion. Additional records were set in overall cyber exports as well as in the number of Israeli firms that entered the billion-dollar (Unicorn) club (i.e. are worth One dollar billion).
According to the data, in 2023 the Israeli cyber industry raised $8.8 billion in over 100 different deals, triple the total amount from the previous year. Also, four Israeli cyber security IPOs took place 2023, as well as 11 new Israeli entrances in to the prestigious Unicorn club i.e. their valuation was over $1 billion. Based on the data, one inch every three cyber security unicorns on the planet is an Israeli company.
Investment in Israel is on the rise relative to the rest of the world: 2023 featured over 40 acquisition deals of Israeli companies by local and foreign entities by having an estimated worth of $3.5 billion. Around 40% from the private global purchase of cyber security funding rounds are in Israel.
According to Israeli Export Institute data, overall cyber exports were $11 billion in 2023.
Roi Yarom, INCD Director for Economy and Growth: “The Israeli cyber industry wrapped up another record-shattering year that showed that it was not only a fiscal growth engine in Israel of the highest order but additionally a pillar of the global cyber security innovation ecosystem.”
