Safeguard people and
governments in Ontario
A US $1.5 trillion industry where demand is outpacing supply
The world is undergoing a cyber awakening. Cyber Security is no longer an ‘IT problem’; it’s a business problem. In the ever-expanding digital landscape, the growth of the digital economy has brought with it an alarming rise in digital crime, costing governments and businesses their safety – and trillions of dollars.
Organizations across the globe have responded by spending a staggering US $150 billion on Cyber Security in 2021 alone, followed by a 12.4% growth rate every year. This increase in expenditure underscores the urgent need for robust Cyber Security measures, which appear to be growing exponentially faster than the solutions available.
The total global addressable market has the ability to reach US $1.5 – $2 trillion, but the existing commercial solutions in the Cyber Security industry have achieved considerably low market penetration, between 1 35% only.
The industry is ripe for innovation to bridge the significant gap by addressing the needs of underserved segments, constantly enhancing technology, and simplifying complex processes.
A formidable authority in global CleanTech
Not only does Canada serve as a large customer base for Cyber Security solutions, but it is also a hotspot for successful homegrown Cyber Security companies that excel on the global stage. The Canadian Cyber Security industry contributed over US $3.2 billion to the country’s GDP in 2020, spent over CA $347 million in R&D, and generated 29,000 jobs in the Canadian economy.
The Canadian Cyber Security industry has a huge domestic market, accounting for 69% of revenue generation. The remaining 31% comes from Canada’s Five Eyes partners (Australia, New Zealand, the United Kingdom, and the United States), contributing to approximately CA $1.15 billion in exports.
The country’s Cyber Security industry is predicted to grow at an annual rate of 9.12% from 2023 to 2028, reaching a market value of CA $7.26 billion by 2028.
$3.2B
Cyber Security sector contribution to GDP
$1.15B
annual exports in the Cyber Security sector
29,000 jobs
in Cyber Security
85%
Cyber Security companies are Canadian owned
347M
in R&D funding
90%
of Cyber Security companies are SME’s (less than 250 employees)
A forefront authority in Canadian and global Cyber Security
Ontario is a leader in Cyber Security activities in Canada, with a synchronous triad of innovative enterprises, academia, and government working together to safeguard governments and organizations all over the world.
Arctic Wolf, BlackBerry, Crypto4A Technologies, Field Effect, EchoWorx, Tehama, xahive – Ontario has a mix of established pioneers and new-age startups. The province has 335 active Cyber Security companies operating here.
The main Cyber Security hubs within Ontario are Toronto, Waterloo, and Ottawa.
What makes Ontario so attractive for Cyber Security is the abundance of human capital, with over 65000+ STEM graduates being dispensed out of 47 universities and colleges yearly. The province also currently offers 21 university degree programs, 28 college programs, and 700 courses specifically in Cyber Security. Some noteworthy academic Cyber Security support systems in Ontario include:
Canada’s trade agreements cover markets valued at over US $50 trillion with 1.7 billion consumers. Canada has free trade agreements with the largest manufacturing markets in the world: the United States (USMCA), the European Union (CETA) and Asia-Pacific (CPTPP).
Your business can access 187 million consumers within a day’s drive of the Greater Toronto Area. Ontario has 4 international and 300 regional airports, 250,000 km of roads and highways, a dozen border crossings and the 6th most internationally connected airport in the world.
See all of our programs and find out how TBDC can maximize the potential in your Cyber business.
largest Cyber Security sector in Canada
largest tech cluster
in North America
active Cyber
Security companies
employees in the ICT sector
Funding, Resources and Organizations
The Canadian Centre for Cyber Security (CCCS) operates under the Federal Government’s Communications Security Establishment (CSE), and directly supports the Cyber Security sector in Canada. It is a single unified source of expert advice, guidance, services and support on Cyber Security for Canadian individuals and businesses.
Ontario’s Cyber Security Centre of Excellence helps strengthen Cyber Security across ministries and broader public sector organizations. It helps hospitals, schools, municipalities, corporations, and others understand Cyber Security better.
They host Cyber Security Awareness Month every month in Ontario and also manage Cyber Security Ontario – an online learning platform with a library of articles and videos to empower Ontarians.
Vendors providing Cyber Security products and services can sign up with their Vendor of Record program to make their solutions available to public sector organizations.
was established in 2020 to bolster Canada’s National Strategy for Critical Infrastructure. CFDIR is an exclusive organization that collaborates with leading IT and Cyber Security companies in Canada. Its mission is to fortify the resilience of the country’s critical digital infrastructure, fostering a trusted digital economy for Canadians and a flourishing Cyber Security industry. Visit Site
