Paladin Capital Group 2024 report shows global growth in Safety Tech industry
Paladin Capital Group, a multi-stage investor specializing in cyber security and advanced technology, has published its third annual report on the Safety Tech industry, showing steady global growth despite economic challenges.
The report documents a 14% year-on-year increase in Safety Tech providers worldwide, with total investment reaching $6.3 billion.
Safety Tech encompasses technologies designed to protect users from harmful online content, contact, and conduct. This sector differs from cybersecurity, which protects data, systems, and networks.
The report was produced in partnership with PUBLIC, Perspective Economics, and Dr. Mary Aiken, Chief Scientist for Safety Tech at Paladin.
Dr. Aiken highlighted the sector's growth amid rising online threats:
“With threat actors increasingly spreading disinformation, extremism, and illegal content, and exploiting AI in, for example, the generation of deepfakes, it is encouraging that this report shows the global Safety Tech sector is steadily growing and expanding to a host of new countries.
“Safety Tech solutions offer a means to leverage cutting-edge technologies to protect people worldwide and tackle problematic, harmful, and criminal activities online.”
The report notes the sector’s resilience despite a slowing global investment landscape. It finds that 63% of Safety Tech providers have received external investment, showing the need for ongoing financial support.
The report identified 597 active Safety Tech providers globally, up from 522 in 2023. Dedicated firms make up 402 of these providers, with the remaining 195 being diversified firms offering Safety Tech as part of broader services.
Key statistics and insights
Employment Trends: The report estimates that 15,731 people are employed in dedicated Safety Tech roles worldwide, a 4% decrease from 2023, likely due to AI-driven productivity improvements and cost-cutting measures.
Geographic Distribution: The U.S. leads with 269 providers (45% of the global total), followed by the U.K. with 167 providers (28%). Emerging hubs include India, Singapore, and Vietnam, which are experiencing rapid growth in Safety Tech innovation.
Irish Sector Growth: Ireland is highlighted as an emerging leader in Safety Tech. Approximately 1 in 12 Trust & Safety professionals globally are based in Ireland, supported by the country’s strong digital infrastructure and multinational cybersecurity presence.
Impact on educational institutions
The report emphasizes the role of Safety Tech in educational settings, particularly in protecting students online. Technologies such as age-oriented online safety tools and device-level protection solutions are helping schools create safer digital environments. For example:
Age Verification: Tools that ensure age-appropriate content access for students, helping schools comply with online safety regulations.
Content Moderation: Platforms employing AI-driven moderation tools to filter harmful content and prevent cyberbullying.
Network Filtering: Solutions that block harmful content at a network level, ensuring safe browsing within educational institutions.
These technologies are critical in mitigating online risks such as disinformation, cyber harassment, and exposure to inappropriate content.
Legislative developments and challenges
The report also highlights new legislation in the U.S., India, and Australia, with platforms often adopting a "wait and see" approach to compliance. This regulatory uncertainty impacts Safety Tech providers’ product development and market strategies. Access to high-quality training data remains a challenge due to increasing restrictions on platform data.
Alex de Carvalho, CEO and Co-Founder of PUBLIC, said:
“The Safety Tech sector continues to experience unprecedented growth with the help of GenAI tools and improved data sharing. We are at a critical juncture where innovative technology must serve the interests of the public sector and place humans at the center of the digital revolution.”
Recommendations for stakeholders
The report outlines recommendations for investors, governments, and Safety Tech providers to sustain growth, including:
Investors: Collaborate with Safety Tech experts to identify market opportunities and support innovative solutions.
Governments: Encourage data sharing and standardize regulations to support the sector’s growth.
Educational Institutions: Adopt Safety Tech solutions to create secure online environments for students.
Chris Inglis, Senior Strategic Advisor at Paladin and former U.S. National Cyber Director, stressed the importance of collaboration in online safety:
“Everyone is more online than ever before and we need a new ‘social contract’ for cyberspace to foster shared responsibility to address existing vulnerabilities and emerging threats,” he said. “Most importantly, Safety Tech can protect the most critical infrastructure – human infrastructure.”
The report is available here.
