A report from the UK government, the UK Cyber Security Sectoral Analysis 2020, has been published today, analysing the rapid growth of the UK’s cyber security industry over the last two years. It has revealed that total revenues in the sector have risen by 46% over the last two years, from £5.7bn in 2017 to £8.3bn.
The number of cyber security firms which have been set up in the UK over the last two years has also risen by 44%, from 846 in 2017 to over 1,200 at the end of 2019 – equivalent to a new cyber security business being set up in the UK every week.
Looking ahead to the future of the rapidly growing sector, Ollie Whitehouse, global CTO at NCC Group, said: “The rapid growth of the cyber security sector reflects an increasing awareness amongst organisations of the need for ongoing resilience. Cyber security has been firmly placed on the board agenda, and it will undoubtedly remain a priority as the threat landscape continues to evolve.
“As the reach of the sector increases, both in the UK and on a global scale, it is vital that its approach to new security solutions becomes even more analytical, data-driven and adaptable. By sharing knowledge and working together to develop effective solutions and consistent advice, the industry will be perfectly placed to keep businesses secure now and in the future.”