Ireland Cyber Security Sector Snapshot 2024
The inaugural “State of the Cyber Security Sector in Ireland 2022” Report established the size, operations and economic contribution of the cyber security sector in Ireland for the first time.
Cyber Ireland commissioned Perspective Economics to update the data, assess the trends since the baseline report and produce an updated “Ireland Cyber Security Sector Snapshot 2024” report.
The “Snapshot 2024” report finds Ireland’s cyber security sector has demonstrated significant resilience and growth during a global technology sector downturn that particularly impacted Ireland. Revenues are growing strongly, and the sector continues make a substantial economic contribution and demonstrates productivity growth.
The geographical spread of cyber security firms across Ireland is a testament to the sector’s nationwide impact and promotes both regional economic development and strengthens the cyber security resilience of organisations nationwide.
For continued sector growth we must support a strong domestic cyber security sector to scale companies to deliver high value solutions and provide cyber resilience for the country and compete internationally. We must also continue to leverage our strengths as an international hub in Europe to grow appropriate foreign direct investment (FDI) in cyber security.
Eoin Byrne, Cluster Manager, Cyber Ireland commented on the launch of the report: “The Cyber Security Sector Snapshot 2024 demonstrates the importance of the sector not only from the perspective of national cyber resilience, but also as a key sector of economic growth. The findings support evidence-based decision-making and help shape strategies to support the growth and competitiveness of the sector, ultimately contributing to economic development and improved cyber resilience of organisations across Ireland.”
Pat Larkin, Cyber Ireland’s Chairperson and President of Ecko Security said: “There is an incredible opportunity for Ireland in the global cyber security market, which is worth around €250 billion with a 15% growth rate. 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.
