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.