UK’s cyber security sector worth £8.3 billion

A new report from the Department for Digital, Culture, Media and Sport has revealed that the number of active cyber security firms in the UK has increased 44 per cent from 2017.

Digital Minister Matt Warman announced that the UK’s cyber security industry is now worth an estimated £8.3 billion, with total revenues in the sector up 46 per cent from £5.7 billion in 2017.

The report also found that there are now approximately 43,000 full time employees working in the cyber security sector, up 37 per cent from 2017, while total revenues within the sector have increased by 46 per cent to an estimated £8.3 billion. On average, revenue per employee reached £193,500 - an increase of seven per cent since 2017.

Warman said: “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.”