During the ongoing pandemic, if there is one technology area that remains unaffected to a large extent, it is Cybersecurity. The global Insurance, Banking, Public and Retail sectors continue to build capabilities to combat cyber threats. Our report gives an overview of the talent intelligence market in the US with an added section highlighting the sector developments in the wake of Covid-19 scenario.
The average cost of a data breach was US$3.9mn in 2019 and shows no signs of abating. In the midst of this, the global spend on Cybersecurity had been US$145bn in 2019 which is expected to top US$270bn by 2026. In fact, companies belonging to the Retail&Wholesale, Utilities, Communications are spending between 11% and 30% of their total IT budget on Cybersecurity initiatives.
Considering the nature of emerging threats, we have identified 4 broad skills groups that are in demand – Incident Response, detecting abnormal systems behavior, knowledge of critical business systems and cybersecurity strategy. We have identified a group of companies which are moving fast to acquire cybersecurity talent in a market where there is substantial demand and supply mismatch. This report also consists of an overview of Cybersecurity job trends, top paying Cybersecurity jobs, and data related to US Cybersecurity demographics.
Our analysis of the existing data has been done taking in to consideration the overarching NICE Framework developed by the NIST. While we have used data up t March 2020, it draws out some characteristics of the talent space that shows resilience to the ongoing pandemic.
We hope that you find our report useful.