Cybersecurity Job Market Will Lead to Severe Workforce Shortage
The recent world cybercrime outbreak predicted to cost the globe $6 trillion yearly by 2021. Due to this, there will be an unprecedented shortage of cybersecurity employees. According to statistics, facts, figures, and observations on the employment tragedy, some ideas and programs can help to solve the problem.
In 2014, Cisco Annual Security Statement projected the widely popular cybersecurity jobs prediction over the past three years. They predicted that by 2014, the industry would lack more than thousands of security experts around the world.
Cybersecurity venture forecasts that there will be about 3.5 million vacant cybersecurity positions around the world by 2021. Presently the IT position is also occupied by security position. Every technology employees and IT workers must be familiar with defending and protecting apps, devices, infrastructure, data, and people. If this is true, then the cybersecurity labor force shortage is even more than the suggested numbers.
In 2016, the cybersecurity unemployment rate was low, and it is projected to remain there from 2017 to 2021. According to Jon McAfee, the least populated of any field of technology is the cybersecurity field.
According to the information from CyberSeek, U.S. employs more than 780,000 workers in cybersecurity positions in 2017 and about 350,000 currently cybersecurity employees. The program was initiated by National Initiative for Cybersecurity Education. And it was supported by the Department of Commerce in National Institute of Standards Technology in the U.S.
In 2015, there are about 209,000 employees in the U.S. cybersecurity job. According to Peninsula Press reports figures from the Bureau of Labor Statistics, during that time, the job postings are increasing by 74 percent over the last five years
Recently, the National Association of Software and Services companies projected that India only would need about 1 million cybersecurity experts by 2020 to meet the needs of its fast-growing economy. Regardless of having the most significant information technology capacity pool across the globe, India is extremely not likely to provide enough number of experts to close the cybersecurity expertise’s gap.
Both Symantec and Palo Alto Research Center have estimated the needs for cybersecurity skills to increase from 6 million jobs (total jobs, occupied and unoccupied) worldwide by 2019.
Presently, only 65 percent of large companies in the U.S have a CISO position. In 2016, there is only 50 percent based on ISACA, nonprofit, independent global association. Cybersecurity ventures forecast that almost all the big companies across the world will have a CISO position in 2021. The cybercrime and associated workforce storage are severe, and organization requires security management with the firm or dotted line to the CEO to solve the problem.