40,000 Cybersecurity jobs in India currently, but skill gap stands at 30% - TeamLease Digital

Chandigarh, June 21, 2023:  One of the leading tech staffing firms, TeamLease Digital, has today launched its latest research study titled “Cybersecurity: Securing India’s Digital Frontier”.  The research study sheds light on the rapid growth and potential of the cybersecurity market in India, also addressing the mounting cyber risks faced by organizations spanning diverse sectors.
 

According to the research study, the cybersecurity market share is projected to reach $3.5 billion, with a projected compound annual growth rate (CAGR) of 8.05% by 2027. As of May 2023, the industry had approximately 40,000 open opportunities, indicating the growing demand for skilled cybersecurity professionals. However, the demand-supply gap stood at 30%, projecting a major skill challenge in the industry. The research study also reveals that global weekly cyber-attacks have increased by 7% to surpass 1,200 attacks per week, while Indian organizations experienced over 2,000 weekly attacks in Q1 2023, marking an 18% increase compared to the previous year. The healthcare industry was a prime target, with 7.7% of attacks directed towards it.
 

Sharing his views, Mr Sunil Chemmankotil, Chief Executive Officer, TeamLease Digital, said “As India Inc. embraces digital infrastructures, the heightened vulnerability to cyber threats necessitates proactive measures. The prevalence of malware attacks, social engineering tactics, and other sophisticated cyber threats demands a comprehensive approach to safeguarding our digital frontiers. By staying vigilant and resilient against emerging challenges such as AI-based attacks, IoT vulnerabilities, and metaverse cyber threats, we can fortify our digital landscape and pave the way for a secure and prosperous digital transformation. There were 40,000 jobs available as of May 2023, but the skill gap remains. There is an urgent need for upskilling the workforce and hiring qualified professionals.”

To effectively combat evolving cyber threats, the research study emphasizes the importance of upskilling the workforce with a broader range of cybersecurity skills. Specializations in areas such as data privacy, cloud security, AI security, and network security are in high demand. Soft skills such as problem-solving, communication, teamwork, and collaboration are also essential in t his field. The top job roles identified in the research study includes IT auditor, Information Security analyst, Network/IT Security Engineer/Specialist, Security Testing/Penetration Tester, and Computer Forensics analyst, with a base pay ranging from 3 to 6 lakhs for 0-3 years of experience. Moreover, senior and mid-level professionals with over 12 years of experience have the potential to earn an annual salary within the range of 50-80 Lakhs.
 

"Amidst the growing demand for cybersecurity expertise, organizations are recognizing the critical importance of upskilling and investing in training programs. Upskilling in domains like Networking & System Administration, Cloud Security, Blockchain Security, Ethical Hacking and other key skills are in high demand. As the industry faces a 30% skill gap in cybersecurity professionals, it becomes imperative for businesses to proactively strengthen their security systems through targeted training initiatives. By empowering professionals with the necessary skills, we can bridge the talent gap and bolster the resilience of our cybersecurity defences", added Krishna Vij, Business Head - IT Staffing, TeamLease Digital.