Info-tech

India to have over 1.5 m unfulfilled job vacancies in cybersecurity by 2025: Report

Hemani Sheth Mumbai | Updated on April 18, 2021

Nearly 95% of businesses in APAC region do not have adequate cybersecurity practices in place

The Covid-19 pandemic has created a major talent crunch in the cybersecurity field, according to a report by professional recruitment services firm Michael Page India titled ‘The Humans of Cybersecurity.’

As per the report, the cybersecurity field is currently experiencing a 43 per cent talent shortage with skills such as Application Development Security, Cloud Security Risk Management, Threat Intelligence, Data Privacy and Security being the most in-demand in the Asia Pacific.

India is expected to have over 1.5 million unfulfilled job vacancies in the field by 2025.

“As companies continue to emphasise on cybersecurity and heightened employee awareness, the focus on cybersecurity has increased more than ever. However there seems to be a huge supply-demand gap, this has led to an increase in hiring for available positions on permanent or contractual basis. The demand for roles such as Security Engineers, Cybersecurity Analysts and Cybersecurity Engineers is on the rise. India is expected to have over 1.5 million unfulfilled job vacancies in cybersecurity by 2025. The second highest in the APAC Region after China,“ said Varsha Barooah, Director of Michael Page India.

Cybersecurity a priority

Cybercrime is on the rise amid the pandemic, further highlighting the need for professionals to bridge the gap.

As per the report, cybercrime was up 600 per cent in Asia Pacific.

“While countries went through lockdown and quarantine measures, people at home started spending far more time online than before which created a new set of opportunities for cybercriminals. 19 million ransomware and phishing attacks were identified in Asia from February to May 2020, with many being Coronavirus-themed,” it said.

Nearly 95 per cent of businesses in APAC do not have adequate cybersecurity practices in place, making them especially vulnerable to attacks.

“Investing in the right tools is definitely a start, but one of the best ways to plug these security gaps is to hire the right cybersecurity talent,” the report said.

India, as a country, witnessed a significant number of cyberattacks in the world. Multiple breaches were observed over the past year leading to industries such as banking, financial services and telecommunications investing in security. There was also new demand from sectors like manufacturing, pharmaceuticals, hospitality, retail, R&D and IP-based organisations as well, as per the report.

“Many companies do not have resources to deal with this threat currently so they are upgrading to build in house capabilities, outsourcing information security to experts or reaching out to cybersecurity firms as a service provider,” the report said.

For 74 per cent of organisations, cybersecurity enhancement is one of the top priorities this year. Asia Pacific’s cybersecurity market which was valued at $30.45 billion in 2019, is now expected to register a CAGR of 18.3 per cent for the period of 2020-25, the report said.

Published on April 16, 2021

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