Cybersecurity plays a critical role in ensuring the safety and reliability of NextGen telecom systems and other digital infrastructure. According to Statista Market Insights, Taiwan’s cybersecurity market is poised for growth, with a projected revenue of US$790 million in 2023 and an annual growth rate of 10.77% through 2028. Taiwan’s software industry is relatively young compared to its hardware industry, creating opportunities for U.S. firms. U.S. cybersecurity solutions are well-regarded in Taiwan for their efficient and effective prevention and troubleshooting capabilities. The most common cybersecurity solutions are firewalls, web application firewalls (WAF), antivirus software, and endpoint protections such as password management tools and software.
Taiwan faces a disproportionately high number of cyberattacks, receiving as many as 30 million attacks per month in 2022. Due to its geographical position, Taiwan is a testing field for hackers that deploy a significant number of Advanced Persistent Threat (APT) attacks daily. Moreover, cyber criminals are increasingly targeting private industry by exploiting loopholes in smart manufacturing supply chains and low latency in 5G networks. Thus, cybersecurity has become a key focal point for maintaining industrial competitive advantage. The Ministry of Digital Affairs (MODA) will continue to press for first-class cybersecurity capabilities in the defense, critical infrastructure, semiconductor, and telecommunications industries.
The Taiwan authorities recently announced its Zero Trust Architecture (ZTA) demand under the National Cybersecurity Development Program from 2021-2024, by following the National Institute of Standards and Technology (NIST) SP 800-207 standards released in 2020. According to the National Institute of Cyber Security (NICS) under MODA, MODA will allocate funds for the Tier A Taiwan authorities’ agencies to adopt the ZTA standard.
Cybersecurity Maturity Model Certification (CMMC)-related cybersecurity solutions have also become more in demand in Taiwan since 2022, as many of the local hardware suppliers have received certification requests from their U.S. buyers. To scale up local hardware suppliers’ cybersecurity awareness, the Taiwan authorities are working to educate local companies about CMMC demand in both domestic and export markets.
An increasing number of e-commerce companies have been targeted by ransomware attacks, prompting Taiwanese authorities to increase the legal penalties for disclosing private data to as much as $500,000. This adds pressure for companies to invest more in cybersecurity solutions.
To promote U.S. cybersecurity companies in Taiwan, GM Taiwan will participate in the RSA Conference in San Francisco, CA, May 6-9, 2024. GM Taiwan also regularly hosts cybersecurity events for U.S. companies to participate and promote their solutions.
Resources
https://www.nics.nat.gov.tw/ZeroTrustMain.htm?lang=zh
Trade Shows
CS Taipei will participate in the following upcoming ICT-related trade shows in the United States for matchmaking opportunities:
- RSA Conference USA, San Francisco, CA: May 6-9, 2024
In 2024, the following related local trade shows will be held in Taipei, Taiwan:
- Cybersec Forum, Taipei May 14-16, 2024
Relevant Authorities
- Ministry of Digital Affairs (MODA)
- National Science and Technology Council (NSTC)
- National Institute of Cybersecurity (NISC)
- Industrial Technology Research Institute (ITRI)
- Information Service Industry Association of R.O.C.
- Institute for Information Industry (III)
- iThome
- Market Intelligence and Consulting Institute (MIC)