Record levels of investment for UK’s £10.1 billion cyber security sector
News | 22-02-2022
Britain’s tech sector continues to break records as new government data shows more than 1,800 cyber security firms generated a total of £10.1 billion in revenue in the most recent financial year, a 14 per cent increase from the previous financial year.
The DCMS Annual Cyber Sector Report, which tracks the growth and performance of the UK’s cyber security industry, reveals the sector contributed around £5.3 billion to the UK economy in 2021, rising by a third on the previous year from £4 billion – the largest increase since the report began in 2018.
Employment across the industry rose by 13 per cent, with more than 6,000 new jobs created, opening up new opportunities for people up and down the UK to join the sector and share its wealth. This brings the total number of people working in cyber in the UK to 52,700.
There were 1,838 active cyber security firms in the UK in 2021. More than half are based outside of London, Surrey and the South East, with cyber security showing growth in the North East and East Midlands. The report highlights this move could be a result of remote working increasing regional opportunities.
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