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About 3.5 million jobs in the Indian cybersecurity space will remain unfilled by year-end even as the sector is growing by leaps and bounds, according to a study by Nasscom and Data Security Council of India (DSCI).
Growing industry
The report has predicted that the Indian cybersecurity services industry would grow at a compound annual growth rate (CAGR) of about 21% to touch $13.6 billion by 2025, the Business Standard reported quoting the study ‘India Cybersecurity Services Land.’’
By 2022, the industry, which generated a cumulative revenue of about $4.3 billion in 2019, is expected to grow to $7.6 billion, the report said, adding that around 3.5 million jobs in the cybersecurity space will, however, remain unfilled by the end of 2021.
Burnout cases
Meanwhile, a global study of cybersecurity professionals has warned of burnout among cybersecurity professionals. The cybersecurity space is facing a serious shortage of investment and this, coupled with extra work pressure, is resulting in skill shortage. This study was conducted by Information Systems Security Association (ISSA) and industry analyst firm Enterprise Strategy Group (ESG).
Quality manpower is a challenge
It is a tall order to fill the vacant positions with quality manpower even as data breach poses a real threat to organisations. The market for hacking, also a part of cybersecurity, is expected to create 3.5 million jobs globally by 2025, according to a report by Cybersecurity Ventures.
“The focus needs to be on proactively detecting and avoiding attacks. Security training experts should also increasingly work towards developing skills in the same area,” the Business Standard quoted Govindraj Basatwar, head of Global Business for INKA Entworks, as saying.
Earlier this year, jobs search firm Indeed had said that cybersecurity job postings are more than the number of people searching for a job in the domain.