Insights Government publishes Annual Cyber Sector Report showing revenue generated by cyber security firms rose by 14% to £10.1 billion

The DCMS Annual Cyber Sector Report, which tracks the growth and performance of the UK’s cyber security industry, reveals the sector contributed around £5.3 billion to the UK economy in 2021, rising by a third on the previous year from £4 billion, the largest increase since the report began in 2018.

Employment across the industry rose by 13%, with more than 6,000 new jobs created. This brings the total number of people working in cyber in the UK to 52,700.

There were 1,838 active cyber security firms in the UK in 2021. More than half are based outside of London and the South East, with cyber security showing growth in the North East and East Midlands. The report highlights this move could be a result of remote working increasing regional opportunities.

UK-registered cyber security firms attracted record levels of external investment, with more than £1 billion being secured across 84 deals by companies.

The Report also shows that almost 300 UK-headquartered cyber security firms have offices in international markets, with 56% offering their products and services in the USA and 46% exporting to the EU.

The UK attracted several foreign companies, with US-headquartered companies representing one in ten UK-based cyber companies. To read the Government’s press release in full and for a link to the Report, click here.