Analytics Insight Estimates 10 Million New Jobs in Cybersecurity by 2023

Analytics Insight predicts a huge rise in Cybersecurity jobs in coming years

 Analytics Insight forecasts 10,006,993 new job openings in cybersecurity by 2023, compared to 3,241,800 job openings in 2019, growing a CAGR of 25.3% during the forecast period 2019-2023. The soaring demand for cybersecurity among industries and companies can be considered the reason for this exponential growth.

With the rapid digital transformation and automation across the globe, companies have been dealing with soaring cybersecurity threats and cybercrimes. Today, companies are in need of expanding and developing a strong cybersecurity team.

Almost all companies are falling prey to cyber threats irrespective of size, growth, technology, etc. Thus, organizations are prioritizing the development of scalable and secure digital infrastructures. Application development security, cloud security, threat intelligence, risk management, etc. are some of the significant cybersecurity skills in demand. Application development security and cloud security skills will enable the development of secure IT infrastructures rather than responding to attacks when they occur.

Thanks to the proliferation of smart technologies like IoT and digital media, cyberspace has become more vulnerable to data breaches today. Also, threat actors have entered into the modern technological space and they are using disruptive technologies like AI to commit these breaches.

However, there is a huge skill gap in the cybersecurity market. As per Analytics Insight, the global skills gap in cybersecurity was 64% in 2020. Considering the huge skill gap and soaring demand for cybersecurity experts, companies should focus on reforming the cybersecurity infrastructures. Siloed IT operations and development teams will create more confusion and hence need to be brought together. The IT professionals can increase their skill base in cybersecurity. All employees should have a basic knowledge of necessary security measures.

Reports revealed that the millennial community is keenly interested in taking up cybersecurity jobs. According to Forbes, cybersecurity professionals with cloud security skills can gain a USD15,025 salary premium in 2021. The accelerated migration to the cloud and a rising interest in connected devices will create more significance for cybersecurity and force companies to have a continuous cyber monitoring system.