04 March 2020
The UK’s cybersecurity sector is now estimated to be worth more than £8.3bn, a jump of 46% from £5.7bn in 2017.
The valuation comes from a report published by the Department for Digital, Culture, Media and Sport (DCMS) which shows that the number of active cybersecurity firms operating in the UK has increased by 44% since 2017, rising from 846 to more than 1,200 firms by the end of 2019.
“Our ambition is to make the UK the safest place to live and work online and it’s fantastic to see our cybersecurity industry flourishing,” said Clare Gardiner NCSC director of national resilience and strategy. “The NCSC will continue to support, encourage and facilitate cybersecurity research and innovation, and help attract the most diverse minds.”
Since 2016 the report estimates that the total investment into the industry has exceeded £1.1bn.
In 2019 alone the sector received £348 million in investment. Revenues on average for cybersecurity companies has grown by 46% since 2017.
“It’s great to see our cybersecurity sector going from strength to strength,” said digital minister Matt Warman, ahead of his speech at international cybersecurity conference SINET. “It plays a vital role in protecting the country’s thriving digital economy and keeping people safe online.” n