No, cybersecurity is not a dying industry, it is one of the most rapidly growing and critical industries in Australia and worldwide, with massive investment and job growth. The perception that it might be dying may come from AI automation, but AI is actually fueling growth because attackers use AI to create more sophisticated phishing, malware and deepfake scams, requiring more defenders. In Australia, the Australian Signals Directorate's Annual Cyber Threat Report 2023-2024 reported over 94,000 cybercrime reports, a 23% increase, with average cost of cybercrime for small business $46,000 and for medium business $97,000. The global cybersecurity market is valued at over $200 billion in 2024 and projected to exceed $400 billion by 2030, growing at 12% to 15% annually. In Australia, the Government's Cyber Security Strategy 2023-2030 commits $2.3 billion and aims to make Australia a world leader in cybersecurity by 2030, with need for 1.2 million cybersecurity professionals. Job vacancies for cybersecurity roles have grown 30% year on year, with unemployment near zero in the field, salaries of $90,000 for entry-level analysts to $250,000+ for CISOs, and strong demand across banking, healthcare, government, critical infrastructure and tech. New areas like cloud security, IoT security, OT security for power grids, and AI security are expanding, so cybersecurity is evolving, not dying, and is considered one of the most future-proof careers.
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