Europe Cybersecurity Market is estimated to be over USD 25 billion in 2018 and is expected to register a lucrative growth between 2019 and 2025 with a CAGR of over 13%
By Shashie Pawar, PR & Media Communicator (Graphical Research)
According to the Graphical Research new growth forecast report titled “Europe Cybersecurity Market By Industry (Banking, Government, Manufacturing, Transportation, IT & Telecom, Insurance, Securities), Industry Analysis Report,, Industry Analysis Report, Regional Outlook (Germany, UK, France, Spain, Netherlands, Norway, Italy, Ireland, Sweden), Growth Potential, Competitive Market Share & Forecast, By Product Type (Identity, Authentication and Access Management (IAAM) [Access Management, Identify Access Management], Infrastructure Protection [Endpoint Protection, Email/Web Gateway, Security Information and Event Management (SIEM), Vulnerability Management, Cloud Security, Data Loss Prevention (DLP)], Network Security [Internet Service Provider Equipment, Virtual Private Network (VPN), Unified Threat Management (UTM), Firewall], Security Services [Implementation, Managed Security Services, Consultancy & Training, Hardware Support]), By Organization (SME, Government, Large Enterprises)”, Determined to exceed USD 65 billion by 2025.
The European cybersecurity market growth is attributed to strong government initiatives to promote data safety and hefty investments in cybersecurity solutions. The increasing cases of data breaches and malicious cyber-attacks on critical business infrastructure have driven several business enterprises toward partnering with government agencies for enhanced cybersecurity. For instance, in July 2016, the EU Commission announced a Public-Private partnership program on cybersecurity with USD 2 billion investments by 2020. The private sector is estimated to contribute USD 1,498 million, with the remaining USD 502 million contributed by various governments across the region. This is expected to spur the growth of cybersecurity solutions in the region.
The network security segment is expected to register an accelerated growth over the forecast period with a CAGR of over 15%. These solutions protect data integrity and usability of critical business networks, safeguarding enterprises against intrusions and virus attacks on their IT networks. The proliferation of new devices, applications, and complex networking architectures has increasingly made network management difficult for enterprises, driving them toward adopting network security solutions for efficiently managing modern complex networks. The rapidly changing network has pressured enterprises to deploy network monitoring tools, accentuating the growth of network security solutions.
The large enterprise’s segment is projected to exhibit a lucrative growth of over 10% in the European cybersecurity market. Large enterprises are severely affected by cyber-attacks due to the involvement of substantial financial assets. Malicious attacks can also hamper an enterprise’s market image and cause investor dissatisfaction; hence, large enterprises are proactively adopting cybersecurity solutions for mitigating such risks. Increasing budget allocations and the growing awareness regarding cybersecurity are further expected to accentuate the adoption of cybersecurity solutions by large enterprises.
The banking sector is anticipated to exhibit an accelerated growth between 2019 and 2025, growing at a CAGR of over 15%. The rapid adoption of digital banking platforms and stringent government regulations for financial institutions have driven banks toward adopting cybersecurity solutions to prevent financial abuse and mitigate losses. For instance, in June 2017, the Financial Conduct Authority (FCA), a leading bank regulator in the UK made it mandatory for all banks in the UK to adopt cybersecurity measures.
Some of the key vendors in the Europe cybersecurity market include Check Point Software, Sophos Group plc, BAE Systems, Cisco Systems, Inc., Symantec Corporation, CyberArk Software Ltd., F-Secure Corporation, Proofpoint Inc., McAfee LLC, F5networks, Inc., Microsoft Corporation, FireEye, Inc., Fortinet, Inc., Hewlett-Packard, Ltd., IBM Corporation, Intel Corporation, Oracle Corporation, Palo Alto Networks, Inc., Rapid7, RSA Security, LLC., Splunk, Inc, and Trend Micro, Inc.
The Europe cybersecurity market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD million from 2019 to 2025, for the following segments:
Europe Cybersecurity Market Share, By Product Type
- Identity, Authentication and Access Management (IAAM)
- Access Management
- Identity Access Management
- Infrastructure Protection
- End Point Protection
- Email/Web Gateway
- Security Information and Event Management (SIEM)
- Vulnerability Assessment
- Cloud Security
- Data Loss Prevention (DLP)
- Network Security
- Internet Service Providers (ISPs)
- Virtual Private Network (VPN)
- Unified Threat Management
- Security Services
- Managed Security Services
- Consulting & Training
- Hardware Support
Europe Cybersecurity Market Size, By Organization Type
- Large Enterprise
Europe Cybersecurity Market Forecast, By Industry
- IT & Telecom
About the Author
Preeti Wadhwani leads the next-generation technology team at Graphical Research. She has more than 4 years of market research and consulting experience in the niche and emerging technologies including SMAC (Social, Mobile, Analytics and Cloud), IoT, virtualization, and containers.