Industry News – February 1st, 2020
The UK’s cybersecurity sector has annual revenues of £8.3 billion – up 46% from £5.7 billion in 2017, says a report from the Department for Digital, Culture, Media, and Sport (DCMS) while the number of active cybersecurity firms in the UK has increased 44% from 2017.
The report finds that;
- The number of active cybersecurity firms in the UK has increased 44% – up from 846 in 2017 to over 1,200 at year-end 2019. This growth is the equivalent to a new cybersecurity business being set up in the UK every week
- There are now approximately 43,000 full-time employees working in the cybersecurity sector, up 37% from 2017
- Total revenues within the sector have increased by 46 percent to an estimated £8.3 billion. On average, revenue per employee reached £193,500 – an increase of 7% since 2017
- 2019 was a record year for the sector with more than £348m of investment
- Over the last four years (2016-19), total investment identified within the cybersecurity sector has exceeded £1.1 billion, demonstrating how confidence has grown in the industry