DCMS has today released 2020’s sectoral analysis which highlights strong growth throughout the UK cyber sector.
The Department for Digital, Culture, Media and Sport (DCMS) has released the 2020 edition of its cyber security sectoral analysis which documents the size, scale and value of the sector in the UK.
Building on the baseline analysis produced in 2018, the overall picture is of strong growth throughout the sector, with revenues increasing 46% since 2018 to £8.3billion.
Other key findings documented in the report include:
- The number of cyber security companies operating in the UK has increased 44% to 846, with a new cyber business being set up every week;
- £348 million of investment in the cyber sector, bringing the total investment from 2016 up to £1.1 billion; and
- 43,000 full time cyber security focused employees, a 37% rise on 2017.
This strong growth highlights the significant investment from both private and public sectors across the UK cyber sector. Industry continues to invest heavily in developing and implementing cutting edge cyber capabilities across UK industry, as well as investing in the talent that will provide the basis for future security. Government also continues to deliver a range of significant initiatives across the piece, including Cyber Exchange which maps the UK cyber offer, Cyber ASAP which looks commercialise academic research and Cyber101 which helps SMEs develop business skills to allow further growth.
Significantly, this report also details how the cyber sector is vital across all UK sectors, particularly in securing emerging technologies in spaces such as consumer IoT, AI and smart cities solutions. The broadening of cyber security sub-sectors highlights the need for growth to continue in order to overcome the significant challenges facing the sector going forward, including the ever developing threat and the skills shortages which continue to mean companies struggle to train and retain cyber professionals.
Digital Minister Matt Warman said:
“It’s great to see our cyber security sector going from strength to strength. It plays a vital role in protecting the country’s thriving digital economy and keeping people safe online.
We are committed to seeing it grow and are investing £1.9 billion over five years through our National Cyber Security Strategy to make sure we lead the way in cyber innovation, develop and attract the best talent.
Alongside GDPR industry adoption, this growth has been driven by a number of factors such as the UK’s world-leading technology sector, pro-innovation regulation, research and business-friendly environment.”
Clare Gardiner, Director National Resilience & Strategy, NCSC said:
“Our ambition is to make the UK the safest place to live and work online and it’s fantastic to see our cyber security industry flourishing.
The NCSC will continue to support, encourage and facilitate cyber security research and innovation, and help attract the most diverse minds.”
Dan Patefield, Programme Manager, Cyber, techUK said:
“It’s great to see such strong growth within the cyber security sector, with the value added to UK plc reflecting the wider success the sector has had in better protecting citizens from the growing cyber threat.
This is testament to the strong collaboration between Government, who have invested heavily in the sector, and industry who provide essential products and services that protects organisations and citizens across the UK.”
The fulle analysis document can be accessed here.