Ireland’s Cybersecurity Sector Booms as Employment and Revenue Soar
Ireland’s cybersecurity sector is experiencing unprecedented growth, with employment expected to reach 17,000 people and gross value added (GVA) reaching €2.5 billion by 2030.
Current State of the Industry
The current GVA of the sector stands at €1.1 billion, accounting for 0.28% of Ireland’s national GVA. The report found that:
- There are 489 cybersecurity firms operating in Ireland
- 73% of these offices are located in Dublin, Cork, Galway, and Limerick
- Cork and Galway have the highest number of firms per capita, despite Dublin having the most overall offices
Services Offered by Cybersecurity Firms in Ireland
Cybersecurity firms in Ireland offer a range of products and services, including:
- Managed security service provision
- Advisory services
- Securing applications, networks, and cloud environments
- Risk, compliance, and fraud services
- Threat intelligence, monitoring, detection, and analysis
- Operational technology security
- Connected devices, identification, authentication, and access control
Anomaly in the Irish Context
The sector is an anomaly in the Irish context due to its makeup of businesses. 44% of cybersecurity firms are classified as large enterprises, attributed to foreign direct investment (FDI), which supports 71% of employment in the sector.
Talent Pool
According to the Department of Enterprise, Trade and Employment’s report Attracting Tech Talent to Ireland, there are approximately:
- 80,000 professionals engaged in technological sectors in Ireland
- 7,351 working in cybersecurity, accounting for 9.2% of the total technological workforce
Growth and Challenges
The sector has recorded steady growth, with a GVA increase of 13.8% in 2020 and an estimated €1.1 billion GVA in 2021. The information and communication sector, which includes cybersecurity, is now the second-largest sector in terms of GVA, behind manufacturing.
However, employers are struggling to find appropriately skilled candidates, with four-in-ten reporting a lack of qualified staff. This skills shortage is not unique to Ireland, as research suggests that 70% of businesses globally are impacted by it.
Future Outlook
The enhanced commitments to cybersecurity in the wake of the HSE cyberattack will likely drive further growth and investment in the sector. As the challenge of finding skilled candidates continues, the opportunity for those invested in the sector remains significant.