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Irish Advantage – Ireland’s opportunity to become a global leader in cybersecurity by 2030

A recent report by Cyber ​​Ireland and Cyber ​​Skills, the first of its kind in Ireland, revealed that there is an opportunity to position Ireland as a global leader in cybersecurity and increase the workforce to over 17,000 by 2030. These are among the findings of the report which identified 489 cybersecurity companies operating across Ireland that employ cybersecurity teams.

The Minister of State for Public Procurement, e-Government and the Circular Economy, Mr Ossian Smyth, addressed the report “There have been several significant cybersecurity incidents over the past few years, including the incident affecting the HSE in May last year. I welcome the collaboration between Cyber ​​Ireland and Cyber ​​Skills on the report on the state of the cybersecurity sector in Ireland. These findings will be key to developing our ambitious goals to support the future growth and development of the cybersecurity industry in the years to come. »

Cyber ​​Ireland Cluster Leader Dr Eoin Byrne said “This report shows the size and breadth of the cybersecurity sector, essential for our economy and our society, which employs 7,300 professionals and contributes €1.1 billion to gross value added (GVA) per year. Cybersecurity is a rapidly growing industry, and we have the potential in Ireland to grow this industry to 17,000 jobs and €2.5 billion in annual GVA by 2030, with the right business supports and measures.

While the report’s findings confirm that 83% of companies expect their cybersecurity team to grow over the next twelve months, 61% noted a recruiting, training and retention issue, such as a lack of candidates on the labor market with the appropriate qualifications. skill level (41%), lack of soft skills (22%) or unaffordable salaries (21%). Access to training and education is essential in the industry to ensure that the demand for skills does not exceed the supply.

Professor Donna O’Shea, Chair of Cybersecurity at Munster University of Technology (MTU), added “Ireland’s ability to grow and develop the cybersecurity industry to 17,000 professionals depends on a supply of suitably qualified people. The HEA Cyber ​​Skills initiative aims to address the talent and skills challenge, reducing barriers to industry participation, upgrading and reskilling professionals, making them industry-ready upon completion of their courses.This is done through the expertise of top industry leaders industry and collaboration within the scientific community”

Investment in cybersecurity companies reached record highs in 2021 of over $20 billion globally, and over the last 5 years 20 Irish cybersecurity companies have raised over €110 million in investments external sources to finance the expansion and growth of their operations. However, it was found that 26% of the companies that responded encountered problems in raising or obtaining financing. Rapid access to investors is essential for funding, development, competition, connections and access to markets and Irish cybersecurity start-ups need this funding to rapidly scale their business to meet the demands of the market.

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