By 2023, Analytics Insight predicts 10,006,993 new cybersecurity work opportunities, up from 3,241,800 in 2019. This represents a 25.3 percent CAGR over the projected period 2019-2023. The explanation for this exponential growth can be attributed to the rising demand for cybersecurity among industries and organizations.
Companies have been grappling with an increase in cybersecurity threats and cybercrime as a result of rapid digital transformation and automation across the world. Today’s businesses need the expansion and development of a large cybersecurity team.
Almost all businesses, regardless of scale, development, technology, or other factors, are vulnerable to cyber threats. As a result, businesses are putting a premium on building scalable and security digital infrastructures. Some of the most in-demand cybersecurity skills include application development security, cloud security, threat intelligence, risk management, and so on. Rather than reacting to cyberattacks as they occur, application development security and cloud security skills would enable the development of secure IT infrastructures.
Cyberspace has become more vulnerable to data breaches as a result of the emergence of smart technologies such as IoT and digital media. Threat actors have now invaded the new technological domain, and they are committing breaches using disruptive technologies such as Artificial Intelligence (AI).
However, the cybersecurity sector has a significant capability deficit. According to Analytics Insight, the global cybersecurity skills deficit would be 64 percent in 2020. Companies should concentrate on reforming cybersecurity infrastructures, given the huge expertise gap and soaring demand for cybersecurity experts. IT operations and development teams that are siloed can cause more uncertainty, so they must be brought together. IT practitioners should broaden their cybersecurity knowledge. All employees should have a basic understanding of the security measures that are needed.
According to reports, the millennial community is particularly interested in cybersecurity employment. According to Forbes, cybersecurity practitioners with cloud security expertise should expect to earn an additional USD15,025 in 2021.