In Catalonia, 495 companies employ over 9,400 people in cybersecurity.
The number of cybersecurity companies in Catalonia grew 14.6% over the previous year. These companies employ 9,414 people (+15%) and generate a total turnover of over 1,071 million euros (+17.3%).
These are some of the main conclusions of the study 'Cybersecurity in Catalonia', prepared by Catalonia Trade & Investment and the Cybersecurity Agency of Catalonia.
The study contemplates cybersecurity as a set of physical, logical and governance measures protecting data properties and information systems. In short, this area encompasses the comprehensive management of threats, from their identification to protective actions, detection of threats and response to cyber incidents and the recovery procedures after the event.
In 2022, cyberattacks increased on average some 50% compared to the previous year and are forecasted to entail a global cost of around 7,000 million euros. 71% of attacks are financially motivated, followed by intellectual property theft and espionage.
The study also highlights the importance of cybersecurity for industry as a whole, given its effects on many economic areas, especially in an increasingly connected world, a fact which generates opportunities for companies (and especially startups) and for the development of new business models.
Furthermore, the study also points out that cybersecurity development can also promote innovative technologies such as IoT, connected vehicles, industry 4.0, digital health and e-commerce.
1,071 million euros in turnover
An analysis of the cybersecurity sector in Catalonia
Catalan companies working in the field of cybersecurity are mainly SMEs (85% of the total) and about a third (29.1%) are under 10 years old. It is a sector with an international presence, with 28.7% of the companies being exporters. Equally relevant is the fact that 9.5% are startups and that 13.8% feature women in management positions.
As regards the business segments, the document states that 89.7% of companies work in the area of protection, followed by those that work in the field of identifying cyberattacks (58.7%), those that specialize in detection (37%), response (33.6%) and recovery from these events (20.6%).
As well as the presence of companies, the cybersecurity ecosystem in Catalonia is complemented with technology centers and research institutes; universities that offer master's and postgraduate studies, as well as vocational training; associations, institutions and entities of the public administration, not to mention trade events such as the IoT or the MWC.
According to the study, 2022 saw Catalonia positioning itself as the 3rd European region for foreign investment attraction in the cybersecurity sector, only behind Ireland and the Brussels region. 4 projects worth 163.6 million euros (7% of the total) were captured, leading to the creation of 313 jobs (2.4%).
The document also points out that Barcelona ranks 6th in the European Union as regards the total value of rounds closed by startups in the field of cybersecurity. Over the last five years (2018-2022), 17 rounds worth 103.3 million euros have been closed. The Catalan startup with the most funding was Red Points, which has closed three rounds worth more than 70 million dollars over these last five years.
The Catalan cybersecurity field is equally pioneering in terms of innovation. If we analyze the impact of the European Union's Horizon 2020 program, Catalonia has been behind 31 projects from 40 entities that have attracted a total investment of over 11.5 million euros (17.1% of the Spanish total and 1.9% of the EU) in this sector.
Global cybersecurity trends and applications
According to the report, it is estimated that global turnover in cybersecurity will grow at a rate of 13.6% year-on-year up to 2027, rising up to around 300 billion euros. Countries such as the United States, China, Japan, the United Kingdom and Germany are leading this increase internationally.
The increasing need of cybersecurity to deal with an increasing number of threats also brings about a corresponding need for new talent. The number of professionals specialized in cybersecurity has grown by 11% globally, according to the study, but so has the need to fill vacancies, with the gap between supply and demand growing by 26%.
Cybersecurity in Catalonia
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