UK’s growing cyber security sector worth over £8 billion

(2 minutes to read)

New Department for Digital, Culture, Media and Sport report shows number of active cyber security firms in the UK has increased 44% from 2017.

Recent data has revealed that the UK’s cyber security industry is now worth an estimated £8.3 billion, with total revenues in the sector up 46% from £5.7 billion in 2017.

The sector has seen significant growth in annual revenue and employment, as well as considerable investment in early-stage companies.

The findings from the report show:

  • The number of active cyber security 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 cyber security business being set up in the UK every week.
  • There are now approximately 43,000 full time employees working in the cyber security sector, up 37% from 2017.
  • Total revenues within the sector have increased by 46% to an estimated £8.3 billion. On average, revenue per employee reached £193,500 – an increase of seven per cent since 2017.

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  • 2019 was a record year for the sector with more than £348 million of investment.
  • Over the last four years (2016-19), total investment identified within the cyber security sector has exceeded £1.1 billion, demonstrating how confidence has grown in the industry.

Digital Minister Matt Warman, commented, “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.”

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