India Inc Has 40,000 Cyber Security Jobs, But Skill Gap Stands At 30%: Report

According to TeamLease Digital, the cybersecurity market share is projected to reach USD 3.5 billion, with a compound annual growth rate (CAGR) of 8.05 per cent by 2027. As of May 2023, the industry had approximately 40,000 open opportunities, indicating the growing demand for skilled cybersecurity professionals. The research study titled- Cybersecurity: Securing India’s Digital Frontier sheds light on the rapid growth and potential of the cybersecurity market in India, and also addresses the mounting cyber risks faced by organisations spanning diverse sectors.

However, the demand-supply gap stood at 30 per cent, revealing a skill challenge in the industry. The research study also noted that global weekly cyber-attacks have increased by 7 per cent, surpassing 1,200 attacks per week. Indian organisations experienced over 2,000 weekly attacks in Q1 2023, marking an 18 per cent increase compared to the previous year. The healthcare industry was a prime target, with 7.7 per cent directed towards it.

The research study reveals that the rapid expansion in digital transformation has increased its vulnerability to cyber-attacks - data theft and financial losses stemming from various use cases. Furthermore, it addresses the challenges faced by India Inc due to the lack of skilled professionals in this field. It also highlights India's ability to lead in developing state-of-the-art cybersecurity solutions by leveraging its robust and proficient workforce.