Ireland’s cyber security sector is in need of an additional 1,000 workers per year due to a surge in demand for services, according to a new report. The State of the Cyber Security Sector in Ireland 2022 found that the industry could potentially support up to 17,000 high-value jobs by 2030, compared to the current 7,300. Last year alone, there were over 6,700 unique job postings for cyber security professionals in Ireland, more than triple the demand from 2019.
Eoin Byrne from Cyber Ireland highlighted the significance of this report, stating, “This report provides clear evidence of the increasing demand for cyber security talent in Ireland, outlining how there were three times as many job postings in 2022 compared to 2019. It demonstrates the benefits of supporting this sector’s growth, including regional employment growth, high-value jobs, and the opportunity to position Ireland as a cyber security leader internationally.”
The need for cyber security professionals has become more critical as companies face increasingly sophisticated threats from online bad actors. Research published earlier this year revealed that the cost of dealing with data breaches is on the rise. IBM reported that the average cost of a data breach reached an all-time high in 2023, with detection and escalation costs increasing by 42% due to the complexity of breach investigations.
If the growth rate in the cybersecurity sector meets expectations, Cyber Ireland predicts that it could contribute up to €2.5 billion in annual Gross Value Added to the Irish economy by 2030. The organization also noted that 83% of businesses in Ireland anticipate expanding their cyber security teams within the next year, with more than half expecting a growth rate of 25% or higher.
The report will assist Cyber Ireland in assessing the labor market demands and determining how it can support the industry’s needs. It was unveiled at CINC23, Cyber Ireland’s annual conference held in Galway this week. The two-day event brought together over 300 professionals from Ireland’s cyber security sector, including representatives from industry, education, and government.