The acceleration of digital transformation and the rising frequency of global cyber threats have turned cybersecurity ventures into a prime focus for investors.
Data from 2024 highlights record-breaking investments in artificial intelligence-powered security solutions and cloud technologies.
Türkiye, meanwhile, is making notable strides in cybersecurity with locally developed projects, earning recognition on the international stage.
The global cybersecurity market exceeded $250 billion in 2024, according to estimates by Gartner and Crunchbase.
This year started with Alphabet’s $32 billion acquisition of Wiz, a cloud security firm, drawing further attention to the cybersecurity advancements. That marked the biggest deal ever for the Google parent.
Cloud security
Artificial intelligence-based cybersecurity solutions are gaining prominence thanks to their proactive defense capabilities. Companies such as Darktrace, CrowdStrike, and SentinelOne have emerged as leaders in this space.
Cloud security investments are experiencing rapid growth. Firms like Palo Alto Networks and Wiz deploy Zero Trust models to safeguard cloud infrastructure. Heightened interest in operational technology (OT) security has emerged in response to critical infrastructure attacks. Notable players like Nozomi Networks offer tailored solutions for sectors such as energy and health care.
Globally, investment activity in cybersecurity continues to soar. For instance, ReliaQuest, an AI-powered cybersecurity firm, recently secured over $500 million in funding, raising its valuation to $3.4 billion.
Türkiye’s advancements
Türkiye has also been making significant progress in cybersecurity in recent years.
The enactment of the cybersecurity law marks the beginning of a new era for digital security. Local firms such as STM, Havelsan, and Argela deliver impactful solutions for the public and defense sectors.
Additionally, startups like Sectrio, SOCRadar, and Hackuity have garnered strong interest from international investors. Turkish cybersecurity startups have managed to raise over $50 million in investments in 2024.
On the other hand, Türkiye’s Cybersecurity Cluster continues to foster collaboration between public and private sectors to develop innovative projects, bolstering the country’s presence in the global cybersecurity market.
Future trends
Experts predict that artificial intelligence, quantum encryption, and Zero Trust architectures will define the future of cybersecurity.
As the risks associated with digitalization grow, cybersecurity ventures are becoming increasingly strategic investment areas. Türkiye’s potential in this domain is further strengthened by its reliance on homegrown technologies.
$32 billion bet
In one of the largest deals in the cybersecurity sector, Google acquired fast-growing startup Wiz for $32 billion. The acquisition aims to enhance Google Cloud’s competitive edge against Amazon and Microsoft. Wiz specializes in agent-free cloud security solutions, widely used by Fortune 500 companies.
The deal is expected to strengthen Google’s AI-powered security offerings. However, challenges such as high costs and regulatory hurdles remain as potential obstacles during the merger process.
Türkiye faces major cybersecurity challenges with 1.5M attacks in 2024
As digital transformation accelerates, cyberattacks have become a significant threat worldwide, including in Türkiye. These attacks are not limited to large corporations but also target small and medium-sized enterprises (SMEs), endangering their business continuity through data breaches, ransomware, and financial losses.
The surge in cyberattacks, particularly large-scale data breaches and cybercrimes, has escalated financial damages for companies, undermining their reputation and disrupting operations. SMEs, in particular, have borne the brunt of these threats, struggling to strengthen their cybersecurity infrastructures due to limited resources.
Competitiveness at risk
In 2024, Türkiye experienced nearly 1.5 million cyberattacks, according to Artuğ Tikiç, general manager of Berqnet Cybersecurity.
“Network-based attacks surged by an astonishing 2,340%, bringing the total number of cyberattacks to 1.5 million. In Türkiye, the impact has been no less severe. Alarmingly, 60% of SMEs are forced to cease operations within six months following a cyberattack,” Tikiç stated, highlighting the direct economic consequences of these attacks on institutions and the broader economy.
Due to their limited budgets and resources, SMEs often fail to implement robust cybersecurity measures, making them easy targets for cybercriminals.
Tikiç added that the repercussions extend beyond businesses, impacting customers, partners, and even local economies.
“Data theft, service disruptions, and the loss of trust significantly reduce SMEs’ survival prospects. Moreover, such attacks jeopardize Türkiye’s digitalization journey and global competitiveness,” he remarked.
Cybersecurity law
To minimize the economic and societal impacts of cyberattacks on Türkiye, coordinated efforts between the public and private sectors are essential.
In this vein, the recently enacted cybersecurity law, passed by the Grand National Assembly of Türkiye (TBMM), marks the beginning of a new chapter in digital security.
Under the new law, public institutions and private sector entities are encouraged to prioritize local and national technologies in their cybersecurity applications.
This initiative aims not only to enhance digital security but also to reduce Türkiye’s reliance on foreign technology and strengthen the competitiveness of local producers.
Strategic sectors such as energy, transportation, health care, finance, and communication now bear greater responsibility in safeguarding digital security under this framework.
Critical infrastructure protection
The new regulations also introduce advanced security standards and compliance requirements to protect critical infrastructure owned by both the public and private sectors. Vital sectors, including transportation, communication, energy, and health care, will be more resilient against cyberattacks and must adhere to specified technical security criteria.
Tikiç emphasized the importance of these measures for domestic technology producers.
“The new law is a powerful step in supporting the development of local cybersecurity manufacturers. It not only strengthens the nation’s digital security but also positions Türkiye more firmly in global competition with technologies produced using our own resources,” he said.
“At Berqnet, we are ready to contribute to this transformation with our 100% locally developed R&D expertise to meet the cybersecurity needs of the public and private sectors.”
Türk Telekom, ZTE set record with intercontinental optical transmission speed test
As internet infrastructure remains a cornerstone of global competitiveness, Türk Telekom, one of Türkiye’s leading telecommunications and technology companies, continues to implement innovative and sustainable solutions to meet next-generation technology demands.
The company has focused on addressing high data traffic while prioritizing capacity enhancement and energy efficiency.
Türk Telekom, in collaboration with leading global technology company ZTE, has achieved record-breaking speeds in intercontinental optical transmission tests over the network traversing Istanbul’s Bosporus Strait.
The test, reaching 1.6 Terabits per second (Tbps), showcased significant energy savings and enhanced data transmission capacity, heralding a new era for Türkiye’s digital infrastructure.
The trial made Türk Telekom Türkiye’s first operator to achieve 1.6 Tbps optical transmission speed using the advanced Dense Wavelength Division Multiplexing (DWDM) technology.
The ZTE DWDM network in Istanbul, which carries a significant portion of the city’s data traffic, facilitated this groundbreaking test. Utilizing ultra-wide C6THz and L6THz bands, the intercontinental link reached record speed on a single channel, resulting in notable improvements in capacity and energy efficiency.
Further tests included new submarine and bridge fiber-integrated links carrying live traffic with dual-carrier systems at a capacity of 3.2 Tbps.
Addressing growing data needs
Zafer Orhan, deputy general manager in charge of network at Türk Telekom, said the company is committed to meeting the increasing data speed demands of Türkiye with innovative, energy-efficient, and easily manageable solutions.
“By deploying new-generation technologies, we create the foundation for transformative advancements. This intercontinental speed test over the Bosporus network achieved significant capacity and energy savings,” Orhan noted.
“These technologies will accelerate processes and enhance efficiency across various sectors, including smart cities, autonomous vehicles, health care, manufacturing, and digital gaming.”
Advancing optical transmission tech
Peng Aiguang, senior vice president of ZTE and president of Europe and Americas region, said the successful trial represents a new step in technological innovation and partnership between Türk Telekom and ZTE in optical communications.
“It not only confirms ZTE’s leadership in DWDM technology but also lays a solid foundation for efficient, intelligent, and sustainable network development in the future,” said Aiguang.
“We eagerly anticipate strengthening collaboration with Türk Telekom, jointly driving the evolution of optical communication technology, delivering superior network experiences to global users, and promoting robust growth in the digital economy.”
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