UK Registers Record Year In Cyber Security

by aardwolfsec

The United Kingdom has shown a growing trend in investment in cyber security over the past year, according to Government data. With more and more businesses and social activities moving online, demand for these services has also increased. This also resulted in the increase of start-up penetration testing companies. Pen testing companies specialise in installing, checking, and making sure that these security systems are running smoothly and efficiently.

The growth of the UK’s cyber industry has attracted a large investment in 2020. The lockdowns have forced more businesses and activities to go online, which is the leading factor for the increase in the number of cyber security companies and the number of employees in the industry. The Government supports this move because it is viewed as a safer alternative for workers.

The DCMS Annual Cyber Sector report tracked the nation’s cyber security industry across different indicators between April 2019 and December 2020. It revealed that 1,483 more companies were operating in the field, an increase of 21%.

They also found a 9% rise in employment in cyber security, amounting to 3,800 full-time jobs and resulting in 46,683 individuals working in the sector. This included jobs at penetration testing companies, which help secure online transactions and domains from threats. It is estimated that the sector is now worth £8.9 billion thanks to the record £800 million in investment from firms.

According to Digital Minister Matt Warman, the need for better, cutting-edge cyber security measures is more important than ever. It shows that this industry is resilient, growing, branching out, and solidifying its status as one of the UK’s top tech sectors.

He also said that the 3,800 new jobs were proof that people and businesses can function online to their full potential even during the pandemic. Warman added that he was committed to supporting the growth of the industry to new heights, the creation of new jobs, and continuing to innovate in this field.

In the report, it was found that 2020 was a record year for investment in cyber security even amidst the restrictions of the pandemic and the economic condition of the nation as a whole. It gained more than twice the investment raised in 2019.

The sector’s revenue also increased by 7%, reaching £8.9 billion toward the end of the financial year. It contributed more than £4 billion to the UK economy, a 6% increase from 2019. The report also suggests that 54% of the firms are now based outside of London and the South East, showing that cyber security clusters are flourishing across the country as well.

These companies sell cyber professional services, such as threat intelligence, analysis, monitoring, and detection. They have also shown growth in offering services for industrial control systems and IoT security. This demonstrates the ability of the cyber security sector to adapt to meet the challenges of the future.

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