Cyber Security is the most profitable industry in the world right now. According to a leading annually research growth firm MARKETSANDMARKETS the cyber security industry will reach a staggering $ 170.21 billion in next four years. The spike in Cyber Security spending is largely connected with the Internet of Things (IoT).
The increasing number of Cyber Threats and emergence of Ransomwares has totally changed the landscape of industry and increased the need of security products and services to a whole new level. Ransomwares like Locky, Crypto, Cerber have raised destruction all over the world this year.
Kespersky a renowned Security solution provider released a report in April which indicated that researchers have found thousands of new ransomwares in past year. The further analysis of report is even more damaging – It shows a 14% increase in the new ransomware attacks have been observed this year; compared to 2015.
Hospitals, Universities, Businesses, Government sectors all have been victimized by the Cyber attacks in past years and the situation has aggravated ever since. The number of cyber attacks and threats these sectors are facing are on a rise; regardless of the millions spend of Cyber Security budgets.
Lack of Cyber Security professionals – A big Issue
There has been a significant aperture between the demand and availability of skilled cyber security professionals. Top universities of the United States has failed badly to produce skilled cyber security professionals; who can fulfill the demand of current market.
Most alarming thing is today cyber criminals are more skilled when you compare them with the Cyber security professionals. An increasing number of cyber attacks and failure of world’s biggest organizations to protect themselves from such attacks is the biggest evidence of above statement.
Symantec CEO Michael Brown said last year in a interview that; “The demand for the (cyber security) workforce is expected to rise to 6 million (globally) by 2019, with a projected shortfall of 1.5 million,”
The shortage of Cyber security workforce has opened opportunities for few professionals to charge premium charges for their services. Most organizations hire security consultants to establish their security infrastructure. Currently, there are more than 209,000 vacant positions in U.S and the number is expected to increase by 53% in 2018. These aren’t some hypothetical figures; this report was published by Peninsula Press.
IT Professionals should develop Security Skills
IT professionals should focus towards learning and mastering their Cyber Security skills; if they want to avail these future opportunities. Development of these skills doesn’t require you to go back to University. These skills can be developed through various online learning platforms.
An average Cyber security professional currently earns around more than $200,000 yearly salaries. The number is expected to increase as we mentioned earlier. Mostly highly skilled cyber security professionals are hired by Homeland Security; which has already damaged the private sector in U.S.
The lack of Cyber security workforce will very soon reach a crisis point. Those individuals who want to avail those opportunities should prepare themselves and start their learning process from today. Parents who are thinking about sending their kids to Universities should also consider what field that want their kids to peruse. After all a Cyber Security graduate can earn better than an MBA or Engineer.