Around 1,800 British cyber security firms made £10.1 billion in the most recent financial year, representing a 14 per cent increase, according to government figures.

The Department for Digital, Culture, Media and Sport’s (DCMS) annual cyber report found that the sector contributed roughly £5.3 billion to the UK economy last year – up by a third on 2020.

This is the biggest increase since the government body’s report began in 2018.
UK cyber firms attracted record levels of external investment, with more than £1 billion secured across 84 deals by companies. This included Bristol-based Immersive Labs, which raised £53.5 million, and London-headquartered Tessian which secured more than £52 million in funding.

Employment across the industry also rose by 13 per cent, with more than 6,000 jobs added to the cyber workforce – which now stands at 52,700 roles in total across the UK.

There were 1,838 active cyber security firms in the UK in 2021. More than half are based outside of London and the Southeast, with cyber security showing growth in the North East and East Midlands. The DCMS said that this could be a result of remote working increasing regional opportunities.

“Cyber security firms are major contributors to the UK’s incredible tech success story,” said digital secretary, Nadine Dorries. “Hundreds of British firms from Edinburgh to Bristol are developing and selling cutting-edge cyber tools around the world that make it safer for people to live and work online.

“We are investing in skills training and business initiatives to help the UK go from strength to strength as a global cyber power and open up the sector to people from all walks of life.”

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