Cybersecurity continues to grow as US-Irish ties deepen
Cyber Ireland represents around 140 members from across Ireland, including cybersecurity companies like US firms Trellix, IBM, Malwarebytes and many more.
The cybersecurity sector in Ireland is set for major growth over the next seven years, with huge opportunities for US multinationals as well as Irish start-ups and SMEs.
Cyber Ireland is the national cyber security cluster organisation that brings together industry, academia and government to represent the needs of the cyber security ecosystem in Ireland.
Cyber Ireland is based in Cork but is a nationwide organisation representing around 140 members from across the country, including cybersecurity companies like Trellix, IBM, Malwarebytes and many more.
The group also represents diversified companies with cyber security teams in Ireland such as US firms like HPE, MasterCard, Optum, Qualcomm and more as well as a host of Irish SMEs and startups in the sector.
The importance of this US-Irish cybersecurity relationship was highlighted in a recent report from Cyber Ireland and Cyber Skills. The report showed there are currently almost 500 cybersecurity companies employing around 7,300 people across Ireland, with seven in 10 employed by multinationals.
That same report, the first of its kind to map the cybersecurity industry in Ireland, states that Ireland has the potential to grow its cybersecurity workforce to more than 17,000 by 2030.
Some 83% of companies surveyed said they expect their cybersecurity team to grow over the next 12 months, and more than half said they expect a growth rate of 25% or higher.
It is estimated that cybersecurity-related revenue in Ireland reaches more than €2bn per annum, with over €1bn gross value added (GVA) contributed to the Irish economy.
Dr Eoin Byrne, cluster manager at Cyber Ireland, said there is huge potential for further growth of the cybersecurity sector in Ireland in 2023 and the years to come.
Dr Byrne highlighted the importance of US multinational cybersecurity companies in Ireland as well as diversified companies with cybersecurity teams based in Ireland, and Irish startups and SMEs in the sector.
“Cybersecurity is a huge industry here in Ireland,” he explained.
“Many of the top cyber security companies in the world are based here, including the likes of Trellix, Mandiant, IBM, Malwarebytes and more.
“As well as that, we have diversified companies who have their cybersecurity teams in Ireland, including Microsoft, Dell, HP and more.
“We also have a number of Irish SMEs and startups in the sector, bringing huge investment and job opportunities to our shores,” he added.
Dr Byrne also highlighted a growing awareness of cybersecurity, as well as growing concerns surrounding the impact of cyber attacks.
It was estimated that the cost of cybercrime globally reached around six trillion dollars in 2022.
“To put that into perspective, a $6 trillion dollar economy would be ranked third in the world behind the US and China,” explained Dr Byrne.
“The cost of cybercrime to companies, governments and people is huge, and it’s all about ensuring that Ireland is a safe space online for people and businesses alike.” Recent events, both global and national, have also resulted in increased awareness of cybersecurity in Ireland.
“The Covid-19 pandemic forced many to work or study from home with a need for online security,” explained Dr Byrne.
“The cyber attack on the HSE in May 2021 also really highlighted the importance of cybersecurity.
“Just because we’re a small country, it does not mean Ireland is not a target for cyber attacks,” he added. “The reality is that every company with an online presence is vulnerable to cyber attacks.
“Relatively speaking, Ireland is in a good position in terms of digital readiness but we need to improve where we are in terms of our cybersecurity readiness, especially when it comes to SMEs. We’re trying to develop the cybersecurity sector in Ireland to do just that.”
The latest Cyber Ireland report indicates that Ireland’s cybersecurity sector is expected to grow by around 10% per annum over the next seven years or so.
Ireland, like Europe and the US, is experiencing a shortage of skilled cyber security workers, Dr Byrne said.
However, he added Ireland is in a strong position to take advantage of global growth in the sector thanks to a regular pipeline of talent in the country, which is already attracting multinationals to set up shop here.
“There’s an international skills shortage of cybersecurity professionals in the US and Europe,” explained Dr Byrne.
“However, there are a number of cyber security courses around the country producing graduates, as well as the national Cyber Skills project, upskilling professionals in industry — these are some of the main attractions.
“US multinationals are also keen to set up bases here because of the business environment, timezone and access to the EU as well.
“The recent Cyber Ireland report showed that we have a really strong cybersecurity industry here in Ireland, with more than 7,000 people employed and the sector creating huge revenue for Ireland each year,” he added.
“Now, it’s about exploring how we can grow that to 17,000 jobs by 2030.
“On the multinational side of things, it’s about looking at how we scale up the existing companies here already to attract the higher skilled jobs in areas like threat research, product development, engineering, research and development and more.
“It’s also about growing out the cybersecurity element of the diversified companies across ICT, financial services and more. That’s our role, being able to support the sector and that includes Irish startups, SMEs and multinationals.
"It’s also important that we understand what the industry needs and liaise with higher education institutes to make sure they’re providing the education necessary for the workforce of the future.
“We’re also working with government representatives, such as the National Cyber Security Center, IDA Ireland and Enterprise Ireland, to further the industry here in Ireland.”
While the cybersecurity sector in Ireland is expected to grow in the coming years, it, like all industries, will have to contend with an ongoing housing crisis as well as concerns surrounding the current cost of living.
“Similar to all sectors, the housing crisis and the cost of living is impacting Ireland’s competitiveness,” Dr Byrne admitted.
“It is an issue for some multinationals that are keen to expand and attract the best talent from around the world and here in Ireland.
“For the cybersecurity industry, it all goes back to skills,” he added.
“Around 60% of respondents in our report last year had staff-related issues, including finding suitable candidates, the right skills, salaries, the desire for remote working and retention of staff.
“The cost of living and housing crises are certainly driving the demand for increased salaries.
“It is a challenge for multinationals and SMEs in Ireland but we haven’t seen any significant slowdown in investment from US companies in Ireland to date.” In fact, Dr Byrne pointed to reasons to be optimistic about the future of cybersecurity in Ireland.
“Our report shows that 83% of organisations plan to grow their cyber security teams by 25% or more over the coming 12 months,” he explained.
“That’s a very positive growth rate. The challenge now is to meet the demand for talent. It’s a massive opportunity for Ireland to become a cyber security leader in Europe,” he stated further.
“That can only happen with the backing of the government, and ensuring that we support Irish SMEs and startups as well as the large multinationals that have set up bases here.
“We also need to invest in, not just the pipeline of cybersecurity talent, but also cybersecurity research and development and, potentially, a national cybersecurity research centre that could look at enterprise-focused research to bring in highly skilled, well-paying jobs to Ireland.”
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