The Future of Cybersecurity: What’s Next for the Industry
Reading the headlines could be enough to put you off your morning shot of espresso these days. You already know what we’re talking about, don’t you?
Anyone working in tech has felt wary watching recent layoffs. Cybersecurity pros are no different, but most know there’s more to the story.
Like you, they know it’s wise to keep a close eye on changes that could disrupt career plans–but they’re watching more than the headlines. Yes, there have been layoffs in cybersecurity roles. However, with the global number of unfilled positions and the explosive growth of the sector, you can still count on the future of cybersecurity.
Cybersecurity is a high-paying industry with vast opportunities for intelligent, driven women who bring expertise from many disciplines. Whether you’re planning to be or are already in a cybersecurity career, you’re still on stable ground.
In this blog post about the future of the cybersecurity industry, we’ll look at:
What’s happening in the cybersecurity sector
Why choosing cybersecurity today is still a smart play
The future of cybersecurity and industry trends to watch
What’s Happening in Cybersecurity
The cybersecurity industry has been growing swiftly over the past decade, and the need for talented professionals is accelerating. So how can there be layoffs in the sector if there are still unfilled jobs? It’s a good question.
Let’s talk about layoffs, specifically in cybersecurity. It’s essential to keep things in sharp perspective when looking at employment numbers and job prospects. Yes, dozens of companies have terminated some or all (yikes!) of their cybersecurity staff over the past year. Yet, many of those laid off won’t have any difficulties finding a new opportunity.
The global cybersecurity workforce may be at an all-time high, with an estimated 4.7 million professionals, but another 3.4 million cybersecurity workers are still needed. So while small corrections may be happening in individual firms that may have over-hired in recent years, the impact on people working in the profession is not the same as in other tech industries.
We know you want to feel confident that you’re still on the right path and you’ll find a way through the obstacles. And you will, just like you’ve always navigated change–by listening to your intuition, letting your ambition drive you, and getting clarity on what’s ahead.
Why Choose Cybersecurity Today
Cybercrime is a huge problem, and the cost of these crimes is growing swiftly. How fast? Global cybercrime costs are expected to increase by 15% annually for the next three years. Just how massive are these damages? In 2015, global cybercrime costs were $3 trillion USD annually, but by 2025 that number is expected to reach $10.5 trillion USD annually.
It’s estimated that there will be 3.5 million unfilled cybersecurity jobs worldwide in 2023. While you might hit bumps in the road, your recovery time still won’t be as tough as in other tech roles. Even if you need to make a few tactical moves along the way, you’ll find a place to land.
Need more assurance that there’s still room for you in cybersecurity? Try this on for size. Once you’ve established yourself in the profession, the sector boasts a 0% unemployment rate for experienced workers and has held that reputation since 2011. And even if you do find yourself out of a job, it won’t be for very long. For every company that has a layoff of cybersecurity talent, there are many who are looking to scoop up that talent.
The Future of Cybersecurity: 5 Trends to Watch
With cybercrime on the rise, and the global increase of people and data to protect, cybersecurity practitioners will be needed for many years. Let’s have a look at some of the developing trends fueling big opportunities for those ready to dive in.
Expanding need for data protection
The amount of data that needs to be protected is growing. Companies are tracking and storing many aspects of our day-to-day lives digitally, which leads to BIG amounts of data they’re required to secure. Plus every time you post to Instagram, comment on Reddit, or watch a TikTok—that’s data too!
Organizations embracing digitalization
Companies are moving towards digitization and driving both risk and cybersecurity needs upward as organizations move systems online. Companies worldwide are replacing older, manual processes of data collection and storage to the cloud, increasing demand for skilled practitioners to protect data previously not accessible unless you were standing in an office.
Remote and hybrid work structures
The pandemic drove employees to remote work and pushed organizations to hastily move more information to the cloud to keep staff connected and data accessible. These shifts increased cybersecurity risk in many organizations, many of which will need to keep remote or hybrid work structures in place to hold onto their employees in the future.
Cybersecurity tied to business outcomes
Companies are becoming more likely to view cybersecurity as a necessary business expense, not a nice-to-have or IT expense. And that spending is increasing. The cybersecurity market is expected to grow from $8.5 billion in 2021 to $14.8 billion in 2025 and exceed $34 billion by 2031. There’s a shift from reactive to prescriptive action, especially on behalf of heavily regulated industries that need to ensure data stays secure.
More women in cybersecurity roles
Women have a significant opportunity to make strides in cybersecurity right now. While women held only 10% of jobs in the sector in 2013, that number increased to 25% in 2022. It’s predicted that women will hold 30% of global cybersecurity jobs by 2025 and 35% in 2031.
These trends can open up opportunities for women ready for change. For example, think back to those 3.5 million cybersecurity jobs that will be open and available this year. If those jobs are filled with the going rate of 25% women, that’s an extra 875,000 jobs for ambitious women like you. If you want to be part of a high-paying industry with strong growth ahead, you’re in the right place.
You know you want to stay on the inside track of trends as you build your cybersecurity career. With the proper support, you’ll be able to navigate new opportunities in cybersecurity and protect the future you’ve been working for.
Now is the perfect time to build your network and ensure you can access the strategic insights you need to clarify the future. Ready to connect with other ambitious women already navigating the same challenges you are? Become an Insider today and map the best path through changes in the sector.
