UK’s 8.9 billion cybersecurity sector record year

Nearly 50,000 people are currently employed in UK cybersecurity, according to a new report. The number of active cybersecurity companies in the UK has grown by 21% compared to last year. The sector contributed more than 4 billion to the economy, attracting 800 million investments. NHS in the national fight against coronavirus by providing critical technical support

According to a new government report, the growth of the UK’s cyberindustry attracted record investments last year despite the global fad.

As Covid-19 forces more business and social activities online, new numbers show that the number of cybersecurity companies and the people working for them has increased as the government continues its efforts to get back more secure from the pandemic.

According to the DCMS Annual Cyber ​​Sector Report, which tracks the UK’s cybersecurity industry in various indicators from April 2019 to December 2020, the number of companies operating in the sector increased by 21% to a total of 1,483.

With the creation of more than 3,800 new full-time jobs, employment in the industry increased by 9%, bringing the total number of people working in the sector to 46,683.

The sector is currently worth $890 million and has a record of $800 million invested by companies.

Digital Minister Matt Warman will present his findings at the CyberASAP event today, and UK researchers give potential buyers the opportunity to showcase innovative new cybersecurity products.

Prior to the virtual event, Digital Secretary Matt Warman said:

The need for state-of-the-art cybersecurity has been higher than ever, and this resilient sector is growing, diversifying and consolidating its status as the jewel of the British tech crown.

With more than 3,800 new jobs created, large and small businesses are doing a critical job of keeping people and businesses secure online so they can recover more safely from the pandemic.

I’m committed to supporting the industry to reach new levels, create more jobs and drive new innovations in this field.

The main findings of the report are as follows:

Despite the current economic climate, 2020 was a new record year for cybersecurity investments, with UK cybersecurity firms raising more than 822 million in 73 transactions, which more than doubled in 2019. The sector’s total annual revenue continued to grow (7% increase). , Reached 890 million in the most recent fiscal year, the sector contributed more than 4 billion to the economy, an increase of 6% last year, mainly driven by mature enterprises Most (65%) of the 46,683 cyber workforce are employed. Large companies (more than 250 employees)

According to this year’s survey, more than half (54%) of businesses are now based outside of London and the southeast, with cybersecurity clusters thriving nationwide in regions such as Scotland, Northern Ireland and northwest England.

The most commonly available cybersecurity products and services include cyber professional services, threat intelligence, monitoring, detection, and analysis. The study highlights the specific growth of companies providing solutions for industrial control systems and IoT security, demonstrating the sector’s ability to adapt and cope with emerging challenges such as the need for smart city security.

Data show that 9 out of 10 companies (89%) thought Covid-19 had an impact on their business, but many of these companies quickly adjusted and innovated in the current economic environment.

Despite the pressure of some companies in this sector, many have still found the ability to provide critical technical support to the NHS and other important national services.

The Edinburgh company Quorum Cyber ​​strengthened cyber defense of the NHS and local councils during the pandemic and created numerous skilled jobs. Meanwhile, SureCert, with offices in London, Edinburgh, and Belfast, has helped deploy hundreds of Covid volunteers quickly through a background check service.

Ian Savage, founder and CEO of SureCert, said:

SureCert won the TechForce 19 competition from NHSx in May. The contest has funded solutions that allow hundreds of volunteers to be found, background checked, and deployed to support vulnerable people in Scottish and Northern Ireland communities. SureCert focuses on handling identity, reference and criminal record verification for volunteers to maximize trust during the pandemic.

Federico Charosky, Managing Director of Quorum Cyber, said:

I was really fortunate that Quorum Cyber ​​was in a position to help, either directly or indirectly. Providing cybersecurity services to the public and private sectors, including providing security operations centers and incident response functions to local authorities and NHS, or by hiring more than 25 people since the start of the blockade, including three graduate apprentices. Quorum Cyber ​​continues to pursue our mission. We want to help good people win.

Despite the pandemic, the number of cybersecurity companies has continued to grow, but the government is recognizing the importance of ensuring that small to medium scale expansion continues to be supported over the next few years.

UK startups leading innovation and development have benefited from the coronavirus outbreak with a 1.25 billion government-sponsored package, and the government continues to support cybersecurity startups through programs like the LORCA cyber accelerator and NCSC accelerator. The support that early-stage cyber enterprises need to continue.

The CyberASAP program, funded by DCMS, supports the commercialization of cybersecurity research at UK universities. Today at this event, you can see a fourth team demonstrating the new product to potential clients, investors and other key figures in the cybersecurity sector.

Julian David, chief executive of techUK, said:

Reliable cybersecurity is essential for any organization as it accelerates the digital transformation after the ongoing COVID-19 outage and the UK industry is responding to these demands. The study shows a sector going from strength to strength, with increasing investments in a growing cyber ecosystem and, perhaps most importantly, the use of technologies and services that keep UK citizens and businesses safe.

One important fact is that 54% of cyber companies are now based in London and in the southeast. This is an encouraging change that will improve cyber resilience and share the economic prosperity this fasting provides in all countries and regions of the UK. -Growth sector. The development of the region is one of the areas where techUK will continue to actively collaborate with DCMS through initiatives such as Cyber ​​Exchange as governments and industry continue to strengthen the UK’s position as a leading cyber country.

Note to editors:

UK Cybersecurity Sector Analysis 2021 can be found here.

The government’s 1.9 billion national cybersecurity strategy is helping to protect countries in cyberspace and make the UK the safest place to live and work online.

The Digital, Cultural, Media and Sports Department (DCMS) commissioned Ipsos MORI in January 2020 with Perspective Economics, the Center for Security Information Technology (CSIT) at Queens University Belfast, and Professor Steven Furnell (University of Plymouth). We do this updated analysis of the UK cybersecurity sector.

The study tracks the UK’s cybersecurity industry in various indicators from April 2019 to December 2020. This includes economic and financial statistics for April 2019 and March 2020 (FY19/20), survey data collected between May and July 2020, and modeling performed in between. August and October 2020. Investment data analysis was conducted in January 2021 and captures investment activity for the whole of 2020 (December January 2020).

This latest analysis uses data from 2019 and is based on an analysis by the UK cybersecurity sector published in January 2020. The 2018 report provided a benchmark for the number of UK cybersecurity companies. The contribution of the cybersecurity sector to the UK economy; The number of employees employed in the cybersecurity sector and an overview of the products and services they provide.

The Cybersecurity Sector Analysis 2020 report can be found here, and the first Sectoral Report for 2018 can be found here.

As part of the level-up agenda, the government is investing heavily in the country’s digital technologies, R&D capabilities, and world-class digital infrastructure to ensure that cyber enterprises have the right environment for success.

The government’s Cyber ​​Skills Immediate Impact Fund encourages organizations to develop cybersecurity training to increase diversity and draw more people into the profession. Initiatives such as Cyber ​​Discovery, an online game that helps teens learn cyber skills in an engaging way, and the CyberFirst Girls Competition, which inspire girls to get into the job, have been helping UK companies acquire diverse talent for years. come.

In the summer, the government announced a 10 million fund to help develop safe future technologies through the Digital Security by Design Challenge. The program can help prevent hackers from remotely controlling digital systems such as autonomous cars, personal computers, or smart home security systems, thus better protecting people and online businesses.

The UK boasts world-class universities leading cutting-edge academic research, including 19 recognized centers of excellence in cybersecurity research. Bristol and London also have three PhD training centers funded by the EPSRC Research Council that educates the next generation of cybersecurity research leaders.

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