UK cyber security sector worth £8.3bn with 37% job increase since 2017

London has the majority of security startups, with record-breaking investment in 2019

The UK's cyber security sector is worth an estimated £8.3 billion, with the nation hosting more than 1,200 active security firms thanks to the sector growing by 44% since 2017. 

Figures from the Department for Digital, Culture, Media and Sport, revealed that the UK's cyber security industry has surged from 846 companies three-years-ago, with the majority of those are based in London. 

Related Resource

Report: The State of Software Security

This annual report explores important trends in software security

Download now

Confidence in the sector, regardless of the region, is up, with investment exceeding £1.1 billion since 2016. 2019 was also a record-breaking year with cyber security firms receiving £348 million in funding. 

Advertisement - Article continues below

This growth has seen a 37% increase in jobs within the sector since 2017, which now employees 43,000 full-time workers.

The government has cited industry support from both private and public sector as a reason for the rise, along with a wide range of its own programmes and initiatives, such as Cyber ASAP and Tech Nation Cyber, which are both scale-up programs. 

The London Office for Rapid Cyber Security (LORCA) is another government-backed programme and also further evidence of the capital's dominance of this sector

According to the UK Cyber Security Sectoral Analysis 2020, London has the most cyber security firms, at 431, which is almost double the next best region, the South East which has 275 companies. Third on the list was the South West, which has 89 cyber security startups, backing up a report released in December which suggested areas such as Bristol were burgeoning tech hubs. 

Advertisement
Advertisement - Article continues below
Advertisement - Article continues below

Cambridge-based unicorn Darktrace was singled out by the report as a leading light in UK cyber security and its CEO Poppy Gustafsson said that organisations had no choice but to lean on AI that fights back on their behalf in the face of fast and sophisticated threats. 

"As we start to see the early signs of attackers using AI, defensive AI will be critical, and not just a nice-to-have," said Gustafsson. "The best algorithms will win many battles, but the cyber war will rage on."

Featured Resources

Staying ahead of the game in the world of data

Create successful marketing campaigns by understanding your customers better

Download now

Remote working 2020: Advantages and challenges

Discover how to overcome remote working challenges

Download now

Keep your data available with snapshot technology

Synology’s solution to your data protection problem

Download now

After the lockdown - reinventing the way your business works

Your guide to ensuring business continuity, no matter the crisis

Download now
Advertisement

Recommended

The IT Pro Podcast: COVID-proofing your startup
startups

The IT Pro Podcast: COVID-proofing your startup

10 Jul 2020
US Rep. Bill Johnson introduces the Advancing Tech Startups Act
Policy & legislation

US Rep. Bill Johnson introduces the Advancing Tech Startups Act

22 May 2020

Most Popular

How to find RAM speed, size and type
Laptops

How to find RAM speed, size and type

3 Aug 2020
How to use Chromecast without Wi-Fi
Mobile

How to use Chromecast without Wi-Fi

4 Aug 2020
How do you build a great customer experience?
Sponsored

How do you build a great customer experience?

20 Jul 2020