As an increasing number of businesses in various industries face the challenge of data breaches, the need for proficient cybersecurity experts is surging. With the advancement of technology and more businesses transitioning online, safeguarding information is becoming a top priority. This trend indicates that individuals with proper cybersecurity qualifications and skills will likely thrive in the foreseeable future.
If you are intrigued by the prospect of making a career in cybersecurity in Singapore, in this article we have covered everything from the importance of cybersecurity in Singapore to cybersecurity job market trends in Singapore to help you.
In 2021, the market value of Singapore’s cybersecurity products and services was SGD 1.7 billion (USD 1.3 billion), which has tripled since 2015. The market is expected to increase by 13.3 percent from 2022 to 2027. The government has implemented various initiatives to strengthen the country’s cybersecurity defenses.
The average cost of a cybersecurity breach in Singapore is approximately SGD 1.7 million (USD 1.3 million) per incident, which is the highest in the Asia-Pacific region. Therefore, strengthening cybersecurity measures can have a positive impact on the country’s economy.
Over the past few years, Singapore has experienced significant growth in its cybersecurity industry, driven by increasing demand for cybersecurity solutions and services across various sectors, including government, healthcare, finance, and education.
The government’s efforts to establish Singapore as a cybersecurity hub and a trusted digital ecosystem have also contributed to this growth, resulting in the emergence of new startups, collaborations between industry players, and the expansion of existing cybersecurity companies. Singapore’s cybersecurity industry is expected to continue to grow in the coming years, providing significant job opportunities and driving economic growth.
The Singapore government is investing SGD 1 billion until 2023 in its cyber and data security systems, and the Association of Singapore Banks has introduced measures to enhance digital banking security. The government has also launched initiatives to manage cybersecurity risks across the supply chain, which are expected to boost the demand for cybersecurity.
The growth of cloud deployment is driving market growth as more Singaporean businesses recognize the cost and resource-saving benefits of cloud-based solutions. As a result, demand for on-demand security services is increasing, and cloud platforms and ecosystems are expected to drive digital innovation in the coming years.
The deployment of cloud-based cybersecurity services has mostly increased among SMEs, and many companies are entering Singapore to meet the growing demand for these services. This segment is expected to drive the market with a higher CAGR.
The following are the primary industries classified by product type, deployment, and end-user industry:
There are three main reasons to consider a cybersecurity career in Singapore.
At the Centre for Cybersecurity (CFC), students acquire highly technical and relevant skills, resulting in a higher-than-average starting salary of SGD $57,600. Graduates also leave with well-documented portfolios that showcase their technical abilities, making them highly desirable to hiring managers and companies. The Skills Future Framework for Infocomm Technology chart also offers many paths for career advancement in the cybersecurity industry in Singapore.
A proficient cybersecurity expert must possess the following abilities:
To pursue a career in cybersecurity, enrolling in any of the following degree programs can provide a stepping stone:
You can also enroll in certificate courses like Systems Security Certified Practitioner (SSCP) and
Certified Information Systems Security Professional (CISSP)
There is a high demand for cyber-security graduates in Singapore, as the country is expected to require 1.2 million more digital workers by 2025, indicating a 55% surge from current levels.
Below, a few of the roles in the finance and banking sectors for cybersecurity experts are mentioned.
The Internet of Things (IoT) plays a significant role in the advancement of various fields such as manufacturing, health, energy grids, and electric vehicles. It connects physical objects and the internet, offering a vast range of opportunities and conveniences, but at the same time, it exposes sensitive data and critical infrastructure to potential security breaches. The massive amount of data generated by IoT devices also poses security risks, especially in cloud computing and blockchain in smart homes, factories, and cities.
To address these concerns, cybersecurity measures must priorities identifying vulnerabilities in IoT devices and strengthening security mechanisms such as privacy, access control, data storage, and authorization. Organizations need to develop a cybersecurity strategy that adapts to rapidly evolving technologies and responds effectively to cybersecurity threats. Thus, it is creating a myriad of job opportunities in Singapore.
A cybersecurity analyst is responsible for various tasks, including but not limited to
In conclusion, a cybersecurity career in Singapore presents numerous advantages, including competitive pay, strong demand, and recognition through prestigious awards and honors. With the cybersecurity industry poised for further growth, we are here to provide our support if you are considering a career in this field.
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There is a high demand for cyber-security graduates in Singapore, as the country is projected to require an extra 1.2 million digital workers by 2025. This represents a 55% surge from the current levels.
National University of Singapore. In collaboration with the NUS School of Computing, the Bachelor of Technology (Cybersecurity) program is provided by the National University of Singapore (NUS).
Despite reports of job losses, the demand for positions in this field remains high across the globe. According to a LinkedIn report on Singapore's job trends for 2023, two of the top 10 fastest-growing occupations were related to cybersecurity.
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