RISE OF CYBER SOLDIERS
AN EXPECTED 1.5 MILLION JOBS WILL BE GENERATED IN THE CYBER SECURITY INDUSTRY BY 2019
Businesses cannot operate without the internet. While the benefits of the digital revolution surpass the pitfalls, one cannot take risks like data leaks and losses lightly. Cyber criminals are not only targeting big corporate houses; government agencies, banks, and research institutes are also facing problems with hacking and spying frequently. This is the prime reason for the burgeoning of information technology (IT) security companies and the rising demand for cyber security professionals. This space is a lucrative career option at the moment.
Skyrocketing demand, but short supply
The cyber security market is expected to grow from $75 billion in 2015 to $170 billion by 2020, which is almost a 100 per cent increase. A 2015 report by Cisco stated that by 2019, there will be a need for six million cyber security professionals globally, but the world would not be able to meet the demand due to dearth of skilled manpower in this domain. In the US alone, more than 2.09 lakh cyber security jobs are unfilled according to the Bureau of Labor Statistics (BLS). The Indian IT security market, on the other hand, is expected to grow by eight per cent annually. It was worth $77 billion in 2015. A recent report by NASSCOM stated that cyber security services would generate revenue of over $35 billion in India annually and efforts to protect data shall lead to employment opportunities for about one million professionals. With demand outweighing supply and trends ensuring exponential future growth, a career in cyber security is placed eighth among the 100 best jobs in the US News and World Report, 2015 with annual growth rate of 36.5 per cent.
Several studies confirm that cyber security professionals earn better than other IT personnel. A career in cyber security assures a handsome salary, job security and better opportunities for professional growth at a faster pace. An average cyber security professional in India earns around `7.8 lakh annually.
The growth graph
With dependence on the internet, threats of confidential and data getting leaked or stolen from cyber space remain high. A NASSCOM report suggests a growing need for cyber security professionals in India in the coming years, not only as employees but also as entrepreneurs. Cyber security consultancies would see a sharp growth in the near future, creating a large number of jobs in the market. If you have an aptitude and passion for cyber security, the scope of growth is quite high.