The worldwide proportion of elections targeted by cyber threat activity increased from 23% in 2021 to 26% in 2022, according to the Canadian Centre for Cyber Security’s “Cyber Threats to Canada’s Democratic Process: 2023 Update.”
The concern is part of a broader trend: Cyberattacks increased globally by 38% from 2021 to 2022, according to data from Check Point Research.
Beyond frequency, attacks are also gaining ground in areas of “sophistication and maliciousness,” a report from KPMG found.
And Canada has it worse than many other nations.
According to data from IBM, for example, the average data breach costs a Canadian company $7 million—more than most countries in the world.
Moreover, Canada is clinging to a nationwide cybersecurity dearth, with one in six roles sitting unfilled—to the tune of 25,000 total empty positions.
“Securing top talent for highly specialized cybersecurity roles has become more challenging than ever for both public and private sector employers,” reads a recent report from CBRE, pointing to a “sizeable supply-and-demand imbalance.”
To illustrate: the past 10 years, a 115% increase in the U.S. cybersecurity workforce has not lagged an 855% increase in job openings for such workers, according to analytics company Lightcast.
Yet the US is still faring better, with nearly 40% of the world’s cybersecurity talent pool within its borders. Canada has 3%.
And while the US claims six of the ten biggest cybersecurity talent markets in the world, Canada is nowhere to be seen.
Regardless of neighbourly rivalry, the general issue remains a worldwide concern.
The global cybersecurity industry is expected to grow to US$270 billion in 2026—up from $170B in 2020—according to data from CBRE’s “Cybersecurity: Global Talent Spotlight,” and this will require a “corresponding increase in hiring that will be difficult to achieve in this already hyper-competitive talent market.”
In essence, Canada’s supply of cybersecurity talent is growing, but “demand is increasing at an even faster pace,” the report concludes, describing the market as “extremely tight.”
A variety of organizations are tackling Canada’s shortage, from universities like uOttawa and bootcamps such as Lighthouse Labs to private organizations including Google and Check Point, whose SecureAcademy Program in Canada provides students with cybersecurity skills, learning resources, and hands-on training.
And in Alberta, an emerging cybersecurity market is quietly but steadily rising up, with CBRE’s report identifying the region of Calgary as an Emerging Market to Watch—the only Canadian city to make the list.
Growing more than 40% annually, Calgary’s cybersecurity workforce now sits well north of 4,000, driven largely by the energy sector, which CBRE calls a “major employer” of cyber talent in the region.
