Cybersecurity job postings drop by 26% in one year: Report

After an increase in cybersecurity job postings by 81% between 2019 and 2022, the demand has dropped by about 26% from September 2022 to September 2023, a report has found. The monumental growth during the three-year period can be attributed to the overwhelming demand for cybersecurity experts in the wake of the pandemic. The job postings, however, saw a dip from last year due to factors like stricter regulations, frameworks, and controls, a study by job portal Indeed has found.

The Indeed report also found that jobseekers continue to show interest in this field, with an increase of 6% in job clicks that denotes sustained interest in cybersecurity. That said, jobseekers may have a skillset different from that in demand. In the last one year, there has been a talent mismatch of about 30%, representing the gap between the skills employers currently require and the available workforce's skill set. 

“The current dip in job postings is a transient phase, and it highlights the industry's ability to adapt and evolve. The cybersecurity sector remains a cornerstone of technological advancement. Our data also reinforces that the future holds tremendous potential,” said Sashi Kumar, head of sales for Indeed India.

In terms of cybersecurity job market, Bengaluru leads with a 23.11% share, driven by its status as the nation's primary IT hub along with factors like dense tech landscape, with numerous IT firms and startups, increasing the potential for cyber threats and attacks. Bengaluru is followed by cities like Delhi, Pune, Mumbai, Chennai, and Hyderabad.

Earlier this month, cybersecurity association ISACA's ninth annual research report, State of Cybersecurity 2023 report showed that the cybersecurity skills gap is leaving businesses vulnerable to attacks, with over 40% of CIO/CTOs in India stating that their cybersecurity teams are understaffed. Nearly 55% of Indian respondents indicated that their organisation is experiencing more cyber-attacks compared to a year ago. This increase is primarily due to various hiring and staffing challenges, as noted in the study sponsored by Adobe and based on insights from 113 security leaders in India.