Locks and Security News: your weekly locks and security industry newsletter
24th May 2023 Issue no. 657
Your industry news - first
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UK's cybersecurity firms hit over $12 billion in 2020 revenue
Atlas VPN research team found that in the 2020 financial year, online security companies in the UK raked in nearly 8.88 billion GBP which is equivalent to 12.51 billion US dollars, a 7% increase from last year's 8.3 billion GBP (11.69 billion USD).
The report shows that:
- Cybersecurity companies earned 12.51 USD within the 2020 financial year.
- 74% of the revenue went to large firms with 250 or more employees.
- Medium-sized companies earned 2.2 billion USD, a 24% increase from last year.
- Start-ups raked in 304 million USD, a 99% surge in earnings from 2019.
- 57% of cybersecurity companies registered in the UK are start-ups with 9 or fewer workers.
- Atlas VPN estimates that cybersecurity firm earnings in the UK in 2021 will exceed 14 billion USD.
The first part of the report looks at the cybersecurity revenue by the size of the firm. The second part of the report analyzes cybersecurity businesses in the UK by size.
To see the full report, please go to:
17th February 2021