The growth of eCommerce remains one of the greatest drivers of the need for cybersecurity talent. Not surprisingly, this need is largest in the financial and banking business sector. Keeping customer data secure from hackers and other nefarious cybercriminals remains essential in this environment.
With hopes for a greater understanding of the demand for SecOps professionals, here is an analysis of the current market. Leverage this information to help craft the necessary staffing plans for sourcing this talent. Don’t let your organization get left behind without the help it needs in securing its data and infrastructure.
The Overall Cyber Security Market Continues to Expand
According to a recent study, the overall cybersecurity market size continues to grow. Valued at $112 billion in 2019, it’s predicted to expand to $282 billion by 2027. This expansion is at a compound annual growth rate (CAGR) of 12.9 percent over that time. Needless to say, this growth means the opportunities are ripe for companies and technology professionals experienced in cybersecurity.
Growth of Cloud-based Services Also Driving Need for Cybersecurity
More companies leveraging Cloud-based services instead of their own technical infrastructures drives the need for cybersecurity talent. These Cloud providers understand that cybersecurity remains an important competitive differentiator. After all, is any company going to trust a provider that recently suffered a hacking incident?
The Banking, Financial Services, and Insurance Sector Seeing the Greatest Demand
Not surprisingly, the banking, financial services, and insurance (BFSI) sector currently shows the greatest demand for cybersecurity services. As noted earlier, the increased use of eCommerce and online financial services is driving this growth. SecOps professionals increasingly leverage AI and machine learning to better protect BFSI companies from cybercriminals. However, expect the overall growth of the financial sector to remain steady through 2027.
Healthcare Shows a Rapid Growth in Demand for Cybersecurity
While the BFSI sector shows the greatest demand for cybersecurity professionals, the world of healthcare boasts the highest growth rate. With electronic medical records seeing wider use, protecting this data becomes critical. Recent technology innovations, like AI and the IoT, also add to the overall complexity of healthcare IT. Ultimately, it’s easy seeing why the medical industry needs more protection from hackers.
Note that the government and manufacturing sectors also boast a large demand for cybersecurity professionals and services.
Are you hiring?
If your organization wants to build a great SecOps team, speak with the professionals at Redbud Cyber. One of the top cybersecurity staffing agencies in the country, we provide experienced candidates able to help protect your technical infrastructure. Schedule some time with us soon.