Cyber-Security Needs Spur Job Growth in 10 Tech Industries
Ten industries are anticipated in the next five years to play a greater part in—and increasingly depend on—cyber-security, including virtual data rooms, online insurance brokers and financial data service providers. These industries form a growing part of the U.S. economy and together will total an estimated $207.1 billion in revenue in 2013, according to a new study from research firm IBISWorld. As online services and transactions become more popular, businesses and consumers are increasingly concerned about effective cyber-security. Last year, high-profile security breaches proliferated. The IBISWorld report points to data from the Identity Theft Resource Center showing 189 incidents in just the first half of 2012, as well as the June 2012 theft by hackers of more than 6.5 million LinkedIn user passwords, and the mid-July theft of 450,000 email usernames and passwords from Yahoo's databases. Here's a look at the 10 industries IBISWorld forecasts will grow at a combined annual rate of 7.7 percent, to $285.9 billion, from 2013 to 2018 and post an average total profit margin of 17.5 percent during that period.