New report reveals €3.2bn cybersecurity impact on all-island economy as Cyber Ireland and NI Cyber Sign memorandum of understanding.
The Republic of Ireland and Northern Ireland’s cybersecurity sectors are set to deepen collaboration following the signing of a landmark agreement.
The memorandum of understanding (MoU) between Cyber Ireland and NI Cyber was confirmed this week at the “All Island Cybersecurity Sector Opportunity” event in Meath, coinciding with the release of a comprehensive report that values the all-island cybersecurity sector at €3.2bn (£2.9bn).
“Cybersecurity is not just a technological issue, it’s a strategic economic opportunity”
The report, commissioned by both organisations with support from InterTradeIreland’s Synergy Programme and produced by Perspective Economics, provides the first in-depth mapping of the all-island cybersecurity ecosystem.
It reveals that the sector comprises 632 firms employing 10,600 professionals and contributes €1.5bn (£1.3bn) in Gross Value Added (GVA) to the economy.
Beyond borders
“Cybersecurity is not just a technological issue, it’s a strategic economic opportunity,” said Eoin Byrne, Cluster Manager at Cyber Ireland.
“This report demonstrates the strength of the all-island cybersecurity sector and the huge potential to improve our cyber resilience and drive economic growth by working together. The signing of the MoU between Cyber Ireland and NI Cyber is a major step forward in that journey.”
The MoU outlines shared goals including enhancing cross-border connections, supporting industry-academic R&D collaboration, and raising the international profile of the all-island sector.
According to the report, Irish firms have seen revenue growth of 13.4% annually over the past two years. The sector benefits from a mix of multinational companies and indigenous enterprises, with 41% of firms headquartered in Ireland and 7% in Northern Ireland.
Joanne English, Cluster Manager at NI Cyber, emphasised the importance of collaboration. “The cybersecurity threats we face don’t stop at borders,” she explained.
“Through enhanced collaboration, we can boost innovation and better support our companies and communities. This report and its findings highlight the opportunity for our respective clusters. The MoU paves the way for joint action and shared success.
“42 cybersecurity companies already have active offices in both NI and Ireland, which shows a clear appetite for cross-border collaboration, and we must now work to realise the opportunities of a more integrated all-island cybersecurity market.”
Despite the sector’s strong performance, the study identified several barriers to growth, including policy gaps, procurement challenges, and security clearance issues that hinder cross-border collaboration.
“Cybersecurity is now a critical and vital consideration for all businesses,” said Alison Currie, Director of Innovation & Entrepreneurship at InterTradeIreland.
“This report, funded by our Synergy programme, will benefit all businesses across the island of Ireland as they strive to collectively improve their cybersecurity preparedness, support their digitalisation processes and reduce their risk of cyber-attacks. InterTradeIreland is committed to supporting the cybersecurity sector as it continues to collaborate, innovate and overcome obstacles to further accelerate growth potential.”
Main image at top: Eoin Byrne, Cluster Manager Cyber Ireland; Simon Whittaker, NI Cyber Chairperson; Alison Currie, Director of Innovation and Entrepreneurship at InterTrade Ireland; Pat Larkin, Cyber Ireland Advisory Board; and Jo English, Cluster Manager NI Cyber. Photo: Mark Stedman
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