Help Wanted! The Growth of the Cybersecurity Market [Weekly Cybersecurity Brief]

There are several trends that are defining the path of cybersecurity going forward. Whether they are major attacks forcing attention, increasing investment interests or evolutions in solutions, there is one thing they all have in common – the need for strong cybersecurity teams that are equipped and driven to see the industry down that path and beyond. We look at some of the latest stories depicting the market and growing availability of cybersecurity jobs.

CRN rounded up the top 10 cybersecurity trends that they predict will dominate the rest of 2021. Of those predictions is the persisting threat of cyberattacks such as ransomware attacks and supply chain attacks. According to the article, “The profile of the ransomware victim has moved upmarket since 2020…,” meaning that even larger companies with the means for cyber-related departments are increasingly facing this pressure. And, as SolarWinds demonstrated what an attack on a supply chain system can cause, the concern over such an incident occurring again will undoubtedly remain. However, worries over varying potential threats are not the only trends on the list. CRN expects investments in protective measures to also continue. For instance, CRN reports that written premiums for cyber insurance went up by 29% in 2020 and the transition to models like zero-trust are likely to carry on in its expansion.

As cybersecurity trends gain momentum, the need to catch up becomes clear. It is this acknowledgment that led the White House to release a statement noting that cybersecurity is one of the major challenges facing society. The new jobs plan from the Biden Administration includes “$20 billion in energy infrastructure investments for state, local, and tribal governments, contingent on cyber modernization,” according to a Forbes article written by Edward Segal. In addition to addressing issues such as pollution, the intention of the investments is to stimulate the creation of jobs and enhanced security. The plan also looks to incentivize actions such as supporting the further development of technologies for the protection of electric grids. However, as Kristina Libby, a cybersecurity expert and part of the NATO Cybersecurity Working Group, points out in the article, there is a major need for more diversity in the cybersecurity workforce and leadership as we aim to fulfill cybersecurity goals. By increasing diversity, the cybersecurity industry then opens itself up to varying perspectives that bring in new ideas of how to meet the challenges we face. 

While the opportunity to evolve the cybersecurity field continues to open up, so does the market for cybersecurity jobs. CBS News reported that there are currently around 465,000 unfilled cybersecurity positions with many located in California, Florida, Texas, and Virginia. These positions span the industry from the private sector to governmental roles. While industry leaders shared with CBS News that it is not difficult to receive the certifications necessary for the field, organizations are still facing the challenge of finding candidates with the proper skills. And as Tim Herbert, executive vice president for research at CompTIA, explained, “Cybersecurity is competing with many other fields.” He shared that often computer science graduates are electing careers in other areas such as artificial intelligence and robotics. Perhaps, though, with the understanding of cybersecurity’s significant role in so many of our daily operations, the interest in taking on these cybersecurity roles will ignite. 

Key Takeaways:

“10 Emerging Cybersecurity Trends To Watch In 2021” – Michael Novinson, CRN

https://www.crn.com/news/security/10-emerging-cybersecurity-trends-to-watch-in-2021

  • CRN shared a list of the top 10 cybersecurity trends that are expected to continue throughout 2021.
  • Included on the list of trends is the existence of cyber threats such as ransomware and supply chain attacks.
  • CRN also expects trends such as the growth in cyber insurance and use of methods like zero-trust to continue.

“How Biden’s American Jobs Plan Seeks To Increase Cybersecurity” – Edward Segal, Forbes

https://www.forbes.com/sites/edwardsegal/2021/05/18/how-bidens-american-jobs-plan-seeks-to-increase-cybersecurity/?sh=7f40cc1e5b82

  • The new jobs plan from the Biden Administration includes “$20 billion in energy infrastructure investments for state, local, and tribal governments, contingent on cyber modernization.”
  • In addition to addressing issues such as pollution, the intention of the investments is to stimulate the creation of jobs and enhanced security including for the electric grid.
  • Kristina Libby, a cybersecurity expert, and part of the NATO Cybersecurity Working Group, points out in the article, there is a major need for more diversity in the cybersecurity workforce and leadership as we aim to fulfill cybersecurity goals.

“U.S. has almost 500,000 job openings in cybersecurity” – Khristopher J. Brooks, CBS News

https://www.cbsnews.com/news/cybersecurity-job-openings-500k/

  • CBS News reported that there are currently around 465,000 unfilled cybersecurity positions with many located in California, Florida, Texas, and Virginia.
  • These positions span the industry from the private sector to governmental roles.
  • While industry leaders shared with CBS News that it is not difficult to receive the certifications necessary for the field, organizations are still facing the challenge of finding candidates with the proper skills or losing candidates to other fields.
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