Cyber Security - A Growing Sector
Cyber Crime is Increasing Worldwide
The need for cyber security in companies continues to grow as a result of increased cyber crime around the world. This is an area of possibly massive financial gain for criminals and as technology gets smarter and advances, so does cyber crime. The below statistics give a brief insight into just how big cyber crime is:
75% of companies say they are not confident that they can respond effectively to a security incident.
The estimated annual cost of cyber crime by the end of 2021 globally is expected to reach up to 6TN.
In Ireland, the chance of a company being subject to a cyber crime is twice the global average.
What does this mean for companies around the world?
This has a direct impact on businesses and how they operate. Besides the cost of a breach, there are a few other major repercussions for companies as a result of the advances in cyber crime:
Companies are finding it harder and harder to fill cyber security job roles as the above numbers continue to grow.
Worldwide there are roughly 4 million unfilled cyber job roles and 0% unemployment in this sector.
There is a continued increase in competition globally for talent and investment in this sector.
The average salary of a CISO is 175k and a Head of Cyber Security is 105k. Companies have to work to fill these positions, either within their own company or outsourced.