Last month proved to be an eventful April for the field of cyber security, with the publication of two significant reports by the Department for Science, Innovation and Technology (DSIT).
These reports shed light on the current state of the UK’s Cyber Security industry, emphasising its growth, employment opportunities, and the pressing need for robust security measures. In this blog, we will explore the key findings from these reports and offer our opinions on the implications they hold for individuals and organisations alike.
The first report, the Cyber Security Sectoral Analysis 2023, provides a comprehensive overview of the UK’s cyber security industry in terms of its size, employment figures, and organisational revenue. It highlights the remarkable advancements made by firms in enhancing cyber resilience while contributing to the overall strength of the UK economy.
“The UK cyber security sector generated revenue of £10.5 billion, up 3% since last year”
Whilst the almost 8% increase in number of companies is positive for the sector; a closer look at the report’s regional snapshots shows in comparison to last year’s findings, that again, we have seen further growth centralised around the Greater London area.
Decreases were reported in the West Midlands and more notably the South East, but despite this slight decline, the South East and Greater London regions account for 49% of the cyber security offices in the UK. This emphasises that there is still significant work to be done to foster growth and attract investment in the remaining regions of the UK, a goal UKC3 and all our regional cyber clusters continue to strive towards.
There were some positive findings for other regions of the UK with the East Midlands and the North East seeing the most notable increases in mean advertised salaries, and the North West being the only region outside of Greater London to see an increase in the percentage of UK based cyber security employment. The opening of GCHQ Manchester in late 2019 is likely the contributing factor behind this growth, illustrating the positive influence investments like this can have on a region.
The second report released by the Department for Science, Innovation, and Technology was the Cyber Security Breaches Survey 2023. This survey plays a crucial role in informing local and national government policies related to cyber security, ensuring a secure environment for conducting business across the UK.
“32% of businesses and 24% of charities overall recall any breaches or attacks from the last 12 months.”
The survey revealed alarming statistics regarding cyber breaches and attacks faced by medium (59%) and large (69%) businesses in the past year, as well as highlighting troubling findings that micro and small organisations see cyber security as less of a high priority than they did in previous years.
As the government continues to release reports underscoring the criticality of the cyber security sector, it is incumbent upon us to ensure that our knowledge and understanding remain up to date. By connecting with UKC3 and your regional cyber cluster you can foster a broader understanding of the threats faced by businesses and organisations on a regular basis, and collectively take steps to fortify our cyber defences and protect our digital landscape.
