5 Cybersecurity Industry Developments to be Thankful For in 2020

Some Good News in a Tumultuous Year

While many of the headlines you hear from the cybersecurity industry are doom and gloom, there’s light at the end of the tunnel.

The cybersecurity industry has had some massive wins this year, despite the giant dumpster fire that has been 2020. So, in celebration of Thanksgiving, we at PlexTrac wanted to highlight five developments in the cybersecurity industry that we can be thankful for as we move into 2021.

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1. The Cybersecurity Industry is Booming

Despite COVID-19 ravaging both the United States’ and the entire world’s economy, the cybersecurity industry has held strong and even built on projections made before the pandemic hit. For context, the cybersecurity market was only worth $3.5 billion in 2004 and now that number exceeds $120 billion.

Additionally, it’s anticipated that the cybersecurity market will grow by 12-15% year-over-year through 2021, a number that far exceeds original expectations of 8-10% set by many industry experts. COVID-19 has only accelerated a shift to many online technologies for working, learning, and collaborating. This shift has signaled the need for a heightened investment in cybersecurity.

While we feel a great deal of sympathy for the industries that are struggling to recover around the globe, there is a lot of optimism that the cybersecurity industry is here to stay and that it will continue to grow exponentially as we move into the future.

2. There are Plenty of Cybersecurity Jobs to Go Around

Like previously mentioned, the cybersecurity industry is booming. With this, there’s also an abundance of jobs for both seasoned cybersecurity professionals and newcomers alike. For example, the title of Cybersecurity Analyst is projected to see hiring numbers increase by 32% from 2018-2028. With both the number of attacks and total attack surfaces growing by massive amounts every year, high demand for cybersecurity jobs will ensure security pros are employed in higher numbers every year.

Additionally, it’s estimated that there will be 3.5 million unfilled jobs in the cybersecurity industry by 2021. While many spin this figure as backing to a cybersecurity talent shortage, we see the silver lining here. For those already in the industry, your job seems more secure than ever. If you happen to be a new cybersecurity professional or are wanting to make a career change, you should have little trouble finding an opportunity to get your foot in the door.

Both an abundance of cybersecurity jobs and massive growth for the industry as a whole signal that the future looks bright for our industry, and that’s great to hear.

3. There Was Little Cybersecurity Interference During the 2020 Election

While there has been quite a debate about the overall security of this year’s United States presidential election, all reports on the cybersecurity front seem to be overwhelmingly positive. According to Time, a large coalition of federal and state officials stated last week that this year’s presidential election was the “most secure in U.S. history.”

This is a very bold claim, but one that seems to be backed up by data. It was reported by AP and many other outlets earlier this week that “the 2020 election unfolded smoothly, and without any widespread irregularities.”

Election results aside, this is very good news for a country that was allegedly hit with massive amounts of Russian cybersecurity tampering during the 2016 presidential election. The United States’ democracy is a beautiful thing, and something that cybersecurity experts have worked hard to protect.

4. Many Initiatives Were Launched to Increase Diversity in Cybersecurity

Diversity is always a good thing. This is especially true in an industry many say is facing a “talent shortage.” A big boost in the opportunity for women, Black people, Latinx people, and many other groups is one of the ways that cybersecurity pros aim to decrease this shortage.

Several groups around the world have launched new initiatives this year that are set to increase diversity in the InfoSec industry. As reported by TechRepublic, one example of these efforts is the work Larry Whiteside, Jr. continues to do as president of the International Consortium of Minority Cybersecurity Professionals. This group has launched three new campaigns this year focused on the goal of increased diversity and reduced wage gap, including the following:

• A gap assessment training tool for students and professionals to identify gaps and get appropriate training to level up. The ICMCP is working to get as much training for free and reduced prices as possible.
• Creating a “speaker’s bureau” of minority and women speakers who can speak on their expertise in the field. The goal of the bureau is to get as many of these speakers at widespread events as possible.
• Building and expanding local ICMCP chapters. The group currently has chapters in New York, Columbus, Chicago, Atlanta, and the Bay Area but has plans to open six more chapters across the United States.

This may just be one example, but many across the globe in the industry are making growth through diversity a high priority, which is great to see.

5. Cybersecurity Has Become a Priority in Politics

While the cybersecurity industry has been an afterthought in politics in the past, this is no longer the case. From election security to our increased reliance on technology, it’s clear that many politicians view cybersecurity as a high priority for our country.

This year cybersecurity was brought to the forefront as a topic in one of the 2020 presidential debates, but has maintained its importance all year. We can look to legislation as evidence, as many bills have been proposed and passed throughout the year. Look to this resource for a running list of state legislation proposed and passed through the year.

On top of a strong state presence, president-elect Joe Biden has made it abundantly clear that cybersecurity remains a key issue for him to attack. This resource predicts Biden’s cybersecurity strategy as president—predictions that include restoring organizational cybersecurity structures, advancing cyber operations, drawing a “hard line” on Russia and China, and much more.

Whether you look at the state or federal level, it’s clear that cybersecurity will continue to be an important priority now and moving into the future.

Conclusion

The cybersecurity industry has never been larger, and that growth comes with an increase in the number of jobs available and the wages being paid. Additionally, it seems that efforts to increase diversity in InfoSec will help move the needle forward in cybersecurity’s social sphere. Lastly, cybersecurity seems to be top of mind in the political landscape as a bipartisan issue, regardless of the level of government.

While it’s easy to only see the bad headlines in an industry ravaged with breaches like cybersecurity, it appears that there’s plenty to be thankful for.

Have a safe and sound Thanksgiving, everyone!