The cyber security industry’s significant economic impact was highlighted at the National Cyber Industry Conference (CINC 24), where it was reported that the sector contributed €1.2 billion to the economy in the previous year. This substantial contribution underscores the industry’s importance and its role in national economic growth. The conference, which brought together industry leaders, policymakers, and experts, also set ambitious goals for the future.
The sector’s growth is attributed to the increasing demand for cybersecurity services, driven by the rise in cyber threats and the need for robust security measures. The report highlights the significant role of cybersecurity in protecting businesses from cyber attacks, which have become increasingly sophisticated and frequent. The sector’s growth is also supported by the increasing adoption of digital technologies, which have expanded the attack surface for cybercriminals. The report emphasizes the importance of investing in cybersecurity to protect businesses and individuals from the growing threat of cyber attacks.
The report, titled ‘Cyber Security: The Business Case for Investment’, emphasizes the importance of investing in cyber security to protect national interests and maintain competitiveness in the global market. It highlights the need for a robust domestic cyber security industry that can offer high-value solutions and contribute to the country’s cyber resilience.
The opportunity exists for Ireland to capitalise on its strengths and competitive advantages to develop a leading cyber security sector in Europe, and globally. Cyber Ireland, as the cyber industry cluster, aims to be the driving force to deliver on Ireland’s cyber potential. This most recent update on Ireland’s cyber security sector’s increased contribution and value to the Irish economy comes following the recent announcement that that the US based private software company, UKG, will expand its international cyber security operations in Kilkenny with plans to hire 200 new roles. CINC 24 will feature presentations and panel discussions from international keynotes speakers such as Sean Doyle, Cybersecurity Lead at the World Economic Forum, discussing the role of public-private-partnerships in cyber security, and Dr. Mary Aiken, a world-leading expert in cyberpsychology who will discuss the and impact of online safety and emerging ‘safety tech’ market.
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