What's Happening?
A new report by PitchBook, published by Enterprise Ireland, reveals that Ireland's cybersecurity sector experienced its strongest year in 2024, with a 40% increase in venture capital (VC) deals compared to 2023. This growth contrasts with a 9.5% decline
in European cybersecurity funding. Ireland has maintained a leading position in Europe for cybersecurity VC deal count per capita since 2017. The report highlights the role of Enterprise Ireland in supporting the sector, with Irish companies like Tines securing significant investments. The sector employs over 8,100 professionals, with projections to grow to 17,000 by 2030.
Why It's Important?
Ireland's robust performance in the cybersecurity sector positions it as a key player in the global cybersecurity landscape. The country's ability to attract top-tier global investors and secure significant funding for its cybersecurity companies underscores its potential for sustained growth and leadership. This success is crucial as cybersecurity becomes a non-negotiable priority for organizations worldwide. The report's findings could attract further investment and talent to Ireland, enhancing its reputation as a hub for cybersecurity innovation and development. The sector's growth also contributes to the broader economic landscape, supporting job creation and technological advancement.
