Is the Field of Cybersecurity a Growing Industry?

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Is the Field of Cybersecurity a Growing Industry?

With computers and the internet playing such important roles in our personal and professional lives, cybersecurity is vital to keep our data and information safe from cyberattacks. Cybercriminals and hackers seem to be everywhere today, which makes cybersecurity not just a growing industry but also a field that this industry can barely keep up with. Regardless of the business or industry, there is going to be a growing need for cybersecurity. is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.

Why the Cybersecurity Industry is Growing

One would think that since we have the awareness of cyber threats and cyberattacks and have many qualified professionals dealing with the problem, industries would be safe, but this is not the case because the cybersecurity industry continues to grow. Here are some reasons to explain the growth.

  • Increase in Number of Cybercrimes – Every year the number of cybercrimes increases as new cyber threats are invented and implemented. Cyber attackers and hackers continue to hone their skills and get better at their jobs. Cybercrimes are single-handedly the largest threat to businesses. According to a report by Cybersecurity Ventures, worldwide cybercrime would double in cost from $3 trillion to $6 trillion from 2015-2021. To keep up with this rate, the industry needs more cybersecurity professionals.
  • Data Breaches High Cost to Businesses – Data breaches are more than just an inconvenience to businesses. The average cost of a company’s data breach is about 3.6 million dollars. Although the average cost of breaches has decreased a little, the size of the breaches has increased. If a data breach is large enough, it can cause a business to fail.
  • Growth of Online Infrastructure – For a business to be competitive, it must use the internet, which increases the danger of cyberattacks and the need for cybersecurity professionals. The more businesses online, the larger the threats.
  • Increasing Use of Business Data – Businesses today are storing more private data and information on employees and customers online, and loss of this data can be detrimental to a company. Cyber attackers often go after this personal information.
  • Hackers Are Skillful – As cybersecurity professionals hone their skills to keep up with technology, so do hackers and other cybercriminals. They spend their days learning new ways to breach a company’s data.

Researching Current Issues in Cybersecurity

Many issues in cybersecurity contribute towards making it a growing field focused on protecting computer systems from cybercriminals and hackers. Many of these issues are formative and extremely challenging for the cybersecurity industry.

  • Technology Equals Vulnerability – New technologies are being developed constantly and, as great as they are, each of these technologies brings the potential for vulnerabilities in the form of cyberattacks. Keeping up with these vulnerabilities is a major part of a cybersecurity professional’s job.
  • We are Only Human – If everyone followed the rules and exercises safety online, there would be no issue with cybercrimes. Unfortunately, many people do not use caution regarding sharing passwords, opening emails with malware or using simple-to-guess passwords.
  • Limitations on Small Businesses – Cybercriminals often get more resources and satisfaction out of attacking large corporations, it’s often just easier to target smaller businesses or startups because these businesses don’t often have the financial resources to implement a comprehensive cybersecurity system.
  • Bigger and Better Attacks – As bad as a simple cyber-attack can be, cybercriminals are constantly looking for better and easier ways to computer their crimes. They’re more talented than in the past and now use high-tech software to help with their cyberattacks.
  • Shortage of Talent – The serious shortage of cybersecurity professionals is one of the largest issues affecting cybersecurity. With a shortage of hundreds of thousands of these professionals, cyber threats are higher than ever before and continue to be a threat to businesses.

Careers in Cybersecurity

Cybersecurity is a large field that continues to grow more each year. Fortunately, there is not just one degree or one educational program an individual must take to work in the cybersecurity industry. Jobs in cybersecurity can be obtained with associate’s degrees, bachelor’s degrees, and graduate degrees. Here are a few of the many jobs that are possible in the cybersecurity industry:

  • Information Security Analyst
  • Forensic Computer Analyst
  • IT Security Consultant
  • Security Architect
  • Lead Software Security Engineer
  • Information Security Crime Investigator
  • Penetration Tester
  • Security Systems Administrator
  • IT Security Engineer
  • Ethical Hacker
  • Chief Information Security Officer

With the number of hackers and cybercriminals increasing at an alarming rate, the cybersecurity industry is unable to get and retain the number of qualified professionals they need. Forbes indicates that the cybersecurity industry will very likely have about 3.5 million unfilled positions by 2021. The field of cybersecurity is not just a growing industry but probably the fastest-growing career field today.

Related Resource: What Can I Do With a Computer Science Degree?

The U.S. Bureau of Labor Statistics estimates that the job outlook for information security analysts should grow 32 percent between 2018 and 2028. Between these professionals being so much in demand and there being so many unfilled positions, wages for these professionals are increasing as well, making cybersecurity the ideal career choice.

Related Resources:

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