UK cybersecurity sector revenue exceeds £10 billion, figures show

The Government’s latest Annual Cyber Sector Report also showed record investment in the cybersecurity sector last year.

17 February 2022

The UK’s cybersecurity sector generated revenue of more than £10 billion over the last financial year and created more than 6,000 jobs, new figures show.

The Annual Cyber Sector Report, released by the Department for Digital, Culture, Media and Sport (DCMS), said revenue rose 14% on the previous year to £10.1 billion.

It said the sector contributed around £5.3 billion to the UK economy in 2021 – up a third – and employment was up 13%, with more than 6,000 jobs created, alongside what the report called record levels of external investment with more than £1 billion in funding raised.

The figures show that around 52,700 people are now working in the cyber industry in the UK, with 1,838 active cybersecurity firms in the country.

The report noted that more than half of these companies are based outside London and the South East, with growth noted in particular in the North East and East Midlands.

The rise comes amid an increase in focus and investment in the cybersecurity sector following the publication of the Government’s National Cyber Strategy, which aims to boost cyber skills and encourage further growth in the sector.

Culture Secretary Nadine Dorries said: “Cybersecurity 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.”

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