UK Cybersecurity Industry Experiences Rapid Growth

Industry News – February 1^st, 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

 

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Source:

Electronics Weekly