Israeli cyber sector exports soar to $3 billion in 2014Jul. 30, 2015
Israel sold some $2.5 billion of cyber technology to the US in 2014, according to the Israel Export & International Cooperation Institute (IEI), which claimed the 'startup nation' totaled $3 billion in cyber exports for the past year.
The institute estimates that the revenue of nearly 250 Israeli firms in the sector will increase at a rate of 10% per year with their primary target still the US.
"The majority of the sales in the sector are among the leading Israeli firms, those considered giants in their field, like Check Point Software Technologies, Radware, Imperva, and CyberArk Software. Additionally, the well-known defense firms, like Israel Aerospace Industries, Rafael Advanced Defense Systems, and Elbit, have joined the bandwagon," he explained.
Some of the figures on the scale of the Israeli industry in the cyber sector were prepared for a conference hosted by the IEI on Wednesday, in an attempt to expose local companies working in cyber to the fast-growing US market.
Last year, 30 Israeli cyber firms raised some $200 million nearly 50% more than in 2013. The IEI reported that in the first quarter of this year, some 10 companies received investments totaling more than $90 million 40% more than in the respective quarter of the previous year.
Last year, two Israeli firms CyberArk and Varonis started trading on the NASDAQ, raising $200 million and selling shares worth some $2 billion. The IEI estimates that the total value of the cyber firms currently trading in the US is approximately $20 billion.
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