With cybersecurity concerns growing, industries will face a shortage of cybersecurity experts. Firms need to spend in training IT professionals to become cybersecurity experts
Enterprises across the globe are today under attack. The state and city governments to are exposed to cyber threats as the enemy and weapons are invisible and sophisticated. Industries have realized the power of attackers to wreak havoc, exploit information centers, and cause deep financial losses. This realization has brought in a sudden rise in demand for cybersecurity experts globally.
According to the reports by Juniper Research, data breaches costs are predicted to rise from $3 trillion in 2015 to over $5 trillion by 2024. That’s, on average, 11% growth annually, primarily driven by huge fines for data breaches as the regulations tighten.
There’s undoubtedly a huge demand for security professionals in the workforce focused on cybersecurity. Cybersecurity is an area of concern for every business — service businesses, financial sectors, small- and large-sized companies. There is a dire need for more dedicated professional courses for cybersecurity principles and security forensics to be introduced.
Cybersecurity was never a separate focus area in IT as the tasks were performed by a mix of professionals across the system and database administration, programming, networking, and data analytics areas. But the digitally advanced companies now require specialized information technologists who focus on cybersecurity.
Burning Glass Technologies, a job-market analytics firm, confirmed in its June 2019 report that the cybersecurity job postings have gone up by 94% since 2013, compared to a mere 30% for IT positions overall. This figure is three times faster than other jobs in the overall IT market. It further suggested that cybersecurity jobs account for about 13% of all IT jobs. On the contrary, these positions take about 20% longer to fill as compared to the other IT jobs even if they pay 16% more.
With the global dependency on technologies – cloud storage and IoT – businesses and governments need to prepare for the new cyber risks evolving every day. Enterprises experiencing digital transformation need to spend more money and time to battle hackers, fix systems prone to attack, and to monitor potential data breaches.
After the COVID-19 is over, there is going to be cut in budgets and job loss globally. To survive the crisis, skills in cybersecurity would be one of the highest in demand.
The right set of skills here would be possible what can drive the permanence of remote working solutions, which have continued to keep the global enterprises running despite the lockdown.