New government data shows that 1,800 UK-registered cyber security firms have generated a total of £10.1bn in revenue in the most recent financial year, a massive 14% increase from the previous financial year. The DCMS Annual Cyber Sector Report, which tracks the growth and performance of the UK cyber security sector, reveals the industry contributed around £5.3bn to the UK economy in 2021, rising from the previous year’s figure of £4bn.
More than £1bn of external investment for these UK cyber security firms was secured across 84 deals. Employment across the industry also grew by 13%, with more than 6,000 new jobs added to the UK’s 50,000-strong cyber workforce.
“Cyber security firms are major contributors to the UK’s incredible tech success story. Hundreds of British firms from Edinburgh to Bristol are developing and selling cutting-edge cyber tools around the world that make it safer for people to live and work online. We are investing in skills training and business initiatives to help the UK go from strength to strength as a global cyber power and open up the sector to people from all walks of life.”Nadine Dorries, Digital Secretary