The Ubiquitous Importance of Cyber Security

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According to Forbes, in 2015 the cyber security market was valued at an impressive $75 billion. By 2020, it is expected to grow to $170 billion, more than doubling in size. This growth rate reflects the demand for cyber security professionals and ever increasing importance of security measures for business, government and personal digital assets. Cisco further reports that currently there are an estimated one million cyber security jobs available and this number is expected to rise to six million by 2019. It is clear that cyber security is growing in importance around the world. Here’s why that matters:

Cyber Security in Business

From the Fortune 500 to SMB organizations, intellectual property continues to be a source of major problems for companies without a robust cyber security program. This has led to a consistent rise in the amount of money that is spent on cyber security. Fortune Magazine reports that, by 2020, businesses will spend nearly 102 billion dollars on software, hardware and cyber security services. This means that there is more opportunity than ever within the industry of cyber security. For example, the Bureau of Labor Statistics predicts that the Information Security Analyst role will grow at a rate of 18%, much faster than average, between 2014 and 2024.

Why Pursue Cyber Security?

Many of the new employment opportunities in the United States are in cyber security, especially in the healthcare industry. IBM recently conducted a study with research partner Ponemon that showed the healthcare industry to have the highest cost per stolen record at $363 per record. Hospitals and large private offices that are looking to remain compliant with HIPAA standards are hiring security experts at a consistently higher rate year over year.

The top jobs in the industry with a management or director title usually require a cyber security masters degree; while a graduate with a bachelor’s degree in cyber security can break into the market in a front-line position. Starting salaries can range from $60,000 to $100,000 depending on the industry standard systems that a student studies, and the industry of the client.

To learn more about starting or advancing your career in cyber security, visit Maryville University today.