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EUROPE CYBER SECURITY MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

Europe Cyber Security Market by Component (Hardware, Software, Service) Market by Solution (Unified Threat Management, IDs/IPs, DLP, LAM, SIEM, DDOS, Risk & Compliance, Other Solutions) Market by Security Type (Endpoint Security, Cloud Security, Network Security, Application Security, Infrastructure Protection, Data Security, Other Security Types) Market by Deployment (Cloud-based, on-premises) Market by Organization Size (Large Enterprises, Medium Enterprises, Small Enterprises) Market by Industry Vertical (IT & Telecom, Retail, BFSI, Healthcare, Government, Manufacturing, Energy, Defense, Other Industry Verticals) By Geography

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MARKET OVERVIEW

The Europe cyber security market is set to project a CAGR of 9.14% during the forecast period, 2023-2032, and is expected to record a revenue of $13021.46 million by 2032.

The cyber security market growth in Europe is accredited to the growing advanced persistent threats (APTs), cloud-based services adoption, and mobile workforces. Also, the need for enhanced risk & compliance solutions and the increasing penetration of the internet have enabled the adoption of cyber security solutions.

However, the Europe cyber security market growth is hampered by high investments in software and services.

Europe Cybersecurity Market

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The Europe cyber security market growth analysis includes the evaluation of France, Netherlands, the United Kingdom, Italy, Germany, Belgium, Spain, and Rest of Europe. In February 2011, the National Cyber Security Strategy (NCSS) was officially adopted in Germany, with both the public and private sectors equally impacted by targeted disruptions. Germany’s Cyber Security Strategy aims to enhance the overall conditions, including the enforcement of rights, the assurance of cyber security, and the protection of critical information infrastructures. The federal government is playing a significant role in safeguarding the nation’s cyberspace to sustain and bolster social and economic well-being.

The implementation of the Cyber Security Strategy by the federal government is expected to primarily concentrate on specific strategic areas. These areas encompass safeguarding critical information structures, fortifying the security of IT systems across the country, enhancing IT security in the public administration, establishing a National Cyber Response Center, and proactively combating cybercrime through effective coordinated actions. To realize these objectives and measures, there is an anticipated substantial increase in the demand for effective cyber security solutions within the country. This surge in demand is projected to stimulate growth in the regional cyber security market.

In France, cybersecurity holds immense significance within the nation’s digital landscape, owing to its growing reliance on technology and the internet. The French government has put in place a comprehensive framework to confront the challenges of cybersecurity and safeguard the digital infrastructure, enterprises, and citizens. ANSSI (Agence Nationale de la Sécurité des Systèmes d’information) functions as the primary national authority for securing information systems, playing a pivotal role in monitoring cyber threats, offering guidance, and coordinating responses to incidents.

The Europe cyber security market segmentation includes security type, solution, component, deployment, organization size, and industry vertical. The organization size segment includes small enterprises, large enterprises, and medium enterprises.

The role of cybersecurity in small and medium-sized enterprises (SMEs) is to safeguard their digital assets, data, and operations against the constantly evolving landscape of cyber threats. SMEs, due to their relatively limited financial resources, are appealing targets for cybercriminals looking to exploit vulnerabilities. Furthermore, SMEs frequently deal with sensitive customer information, financial records, and intellectual property, necessitating the implementation of strong security measures to protect this data and maintain trust with their customers and partners.

Factors driving the adoption of cybersecurity solutions by SMEs include the growing awareness of cyber threats, regulatory requirements like GDPR, and the need to safeguard their reputation. Moreover, the increasing availability of cost-effective cybersecurity solutions tailored for SMEs and cyber security-as-a-service offerings has made it more accessible for these organizations.

Nevertheless, budget constraints can restrict SMEs’ ability to invest in comprehensive cybersecurity measures. Their lack of in-house expertise may hinder their effectiveness in managing and implementing cybersecurity solutions. Additionally, SMEs may view cybersecurity as a complex and challenging endeavor, which further hampers adoption.

Some of the eminent companies in the Europe cyber security market are Sophos Technologies Pvt Ltd, Palo Alto Networks Inc, Proofpoint Inc, etc.

Sophos Technologies Pvt Ltd is a market leader in data protection and IT security. The company’s cloud-native and AI-powered solutions secure endpoints and networks against evolving cyberattack techniques and provide comprehensive network access control (NAC). As a global leader in next-generation cyber security, Sophos protects more than 400,000 organizations of all sizes in over 150 countries. It is headquartered in Abingdon, the United Kingdom.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($Million)
Segments Analyzed
Component, Solution, Security Type, Deployment, Organization Size, and Industry Vertical
Countries AnalyzedFrance, Netherlands, the United Kingdom, Italy, Germany, Belgium, Spain, and Rest of Europe
Companies AnalyzedBAE Systems plc, Broadcom Inc, Check Point Software Technology Ltd, Cisco Systems Inc, Fortinet Inc, International Business Machines Corporation, Lockheed Martin Corporation, LogRhythm Inc, McAfee LLC, Palo Alto Networks Inc, Proofpoint Inc, Sophos Technologies Pvt Ltd, Trellix, Trend Micro Inc

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. CRISIS SCENARIO ANALYSIS
      1. IMPACT OF COVID-19 ON CYBER SECURITY MARKET
    5. MAJOR MARKET FINDINGS
      1. THE ZERO TRUST MODEL, WHICH ASSUMES THAT THREATS MAY ALREADY EXIST INSIDE THE NETWORK, IS GAINING TRACTION
      2. SHIFT TO REMOTE WORK HAS INCREASED THE ATTACK SURFACE
      3. COMPANIES SPECIALIZING IN THREAT DETECTION, INCIDENT RESPONSE, AND THREAT INTELLIGENCE SERVICES ARE POISED FOR GROWTH
      4. AI-DRIVEN CYBERSECURITY SOLUTIONS, INCLUDING BEHAVIOR ANALYTICS AND THREAT INTELLIGENCE, ARE EXPANDING
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. RISING FREQUENCY AND SOPHISTICATION OF CYBERATTACKS
      2. COMPLIANCE WITH STRINGENT DATA PROTECTION REGULATIONS
      3. EXPANDING ATTACK SURFACE DUE TO ONGOING DIGITAL TRANSFORMATION ACROSS VARIOUS INDUSTRIES
      4. GEOPOLITICAL TENSIONS AND STATE-SPONSORED CYBERATTACKS UNDERSCORE CYBER SECURITY EFFORTS’ IMPORTANCE
    2. KEY RESTRAINTS
      1. SHORTAGE OF SKILLED CYBER SECURITY PROFESSIONALS
      2. SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) AND PUBLIC INSTITUTIONS MAY HAVE LIMITED BUDGETS FOR CYBER SECURITY INVESTMENTS
      3. CYBER THREATS ARE CONSTANTLY EVOLVING, WITH ATTACKERS DEVELOPING NEW TACTICS AND TECHNIQUES
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
      1. THRIVING CYBER SECURITY START-UP ECOSYSTEM WITH CUTTING-EDGE SOLUTIONS
      2. NEW VULNERABILITIES DUE TO THE GROWING INTERNET OF THINGS (IOT)
      3. INCREASING NEED FOR CLOUD SECURITY SOLUTIONS DUE TO DATA AND APPLICATION MIGRATION TO THE CLOUD
      4. RISING DIGITAL PAYMENT METHODS AND ONLINE FINANCIAL SERVICES
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING – BELGIUM
    4. MARKET MATURITY ANALYSIS
    5. MARKET CONCENTRATION ANALYSIS
    6. VALUE CHAIN ANALYSIS
  5. MARKET BY COMPONENT
    1. HARDWARE
    2. SOFTWARE
    3. SERVICE
      1. PROFESSIONAL SERVICES
      2. MANAGED SERVICES
  6. MARKET BY SOLUTION
    1. UNIFIED THREAT MANAGEMENT
    2. IDS/IPS
    3. DLP
    4. IAM
    5. SIEM
    6. DDOS
    7. RISK & COMPLIANCE
    8. OTHER SOLUTIONS
  7. MARKET BY SECURITY TYPE
    1. ENDPOINT SECURITY
    2. CLOUD SECURITY
    3. NETWORK SECURITY
    4. APPLICATION SECURITY
    5. INFRASTRUCTURE PROTECTION
    6. DATA SECURITY
    7. OTHER SECURITY TYPES
  8. MARKET BY DEPLOYMENT
    1. CLOUD-BASED
    2. ON-PREMISES
  9. MARKET BY ORGANIZATION SIZE
    1. LARGE ENTERPRISES
    2. MEDIUM ENTERPRISES
    3. SMALL ENTERPRISES
  10. MARKET BY INDUSTRY VERTICAL
    1. IT & TELECOM
    2. RETAIL
    3. BFSI
    4. HEALTHCARE
    5. GOVERNMENT
    6. MANUFACTURING
    7. ENERGY
    8. DEFENSE
    9. OTHER INDUSTRY VERTICALS
  11. GEOGRAPHICAL ANALYSIS
    1. EUROPE
      1. MARKET SIZE & ESTIMATES
      2. EUROPE CYBER SECURITY MARKET DRIVERS
      3. EUROPE CYBER SECURITY MARKET CHALLENGES
      4. EUROPE CYBER SECURITY MARKET REGULATORY FRAMEWORK
      5. KEY PLAYERS IN EUROPE CYBER SECURITY MARKET
      6. COUNTRY ANALYSIS
        1. UNITED KINGDOM
          1. UNITED KINGDOM CYBER SECURITY MARKET SIZE & OPPORTUNITIES
        2. GERMANY
          1. GERMANY CYBER SECURITY MARKET SIZE & OPPORTUNITIES
        3. FRANCE
          1. FRANCE CYBER SECURITY MARKET SIZE & OPPORTUNITIES
        4. ITALY
          1. ITALY CYBER SECURITY MARKET SIZE & OPPORTUNITIES
        5. SPAIN
          1. SPAIN CYBER SECURITY MARKET SIZE & OPPORTUNITIES
        6. BELGIUM
          1. BELGIUM CYBER SECURITY MARKET SIZE & OPPORTUNITIES
        7. NETHERLANDS
          1. NETHERLANDS ECOMMERCE MARKET SIZE & OPPORTUNITIES
        8. REST OF EUROPE
          1. REST OF EUROPE CYBER SECURITY MARKET SIZE & OPPORTUNITIES
  12. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
    2. COMPANY PROFILES
      1. BAE SYSTEMS PLC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      2. BROADCOM INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      3. CHECK POINT SOFTWARE TECHNOLOGY LTD
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      4. CISCO SYSTEMS INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      5. FORTINET INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      6. INTERNATIONAL BUSINESS MACHINES CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      7. LOCKHEED MARTIN CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      8. LOGRHYTHM INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      9. MCAFEE LLC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      10. PALO ALTO NETWORKS INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      11. PROOFPOINT INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      12. SOPHOS TECHNOLOGIES PVT LTD
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      13. TRELLIX
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      14. TREND MICRO INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – CYBER SECURITY

TABLE 2: EUROPE CYBER SECURITY MARKET, BY COMPONENT, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: EUROPE CYBER SECURITY MARKET, BY COMPONENT, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 4: EUROPE CYBER SECURITY MARKET, BY SERVICE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: EUROPE CYBER SECURITY MARKET, BY SERVICE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 6: EUROPE CYBER SECURITY MARKET, BY SOLUTION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: EUROPE CYBER SECURITY MARKET, BY SOLUTION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 8: EUROPE CYBER SECURITY MARKET, BY SECURITY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 9: EUROPE CYBER SECURITY MARKET, BY SECURITY TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 10: EUROPE CYBER SECURITY MARKET, BY DEPLOYMENT, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 11: EUROPE CYBER SECURITY MARKET, BY DEPLOYMENT, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 12: EUROPE CYBER SECURITY MARKET, BY ORGANIZATION SIZE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 13: EUROPE CYBER SECURITY MARKET, BY ORGANIZATION SIZE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 14: EUROPE CYBER SECURITY MARKET, BY INDUSTRY VERTICAL, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 15: EUROPE CYBER SECURITY MARKET, BY INDUSTRY VERTICAL, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 16: EUROPE CYBER SECURITY MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 17: EUROPE CYBER SECURITY MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 18: EUROPE CYBER SECURITY MARKET REGULATORY FRAMEWORK

TABLE 19: KEY PLAYERS OPERATING IN EUROPE CYBER SECURITY MARKET

TABLE 20: LIST OF MERGERS & ACQUISITIONS

TABLE 21: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 22: LIST OF PARTNERSHIPS & AGREEMENTS

LIST OF FIGURES

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING FOR BELGIUM

FIGURE 4: MARKET MATURITY ANALYSIS

FIGURE 5: MARKET CONCENTRATION ANALYSIS

FIGURE 6: VALUE CHAIN ANALYSIS

FIGURE 7: EUROPE CYBER SECURITY MARKET, GROWTH POTENTIAL, BY COMPONENT, IN 2022

FIGURE 8: EUROPE CYBER SECURITY MARKET, BY HARDWARE, 2023-2032 (IN $ MILLION)

FIGURE 9: EUROPE CYBER SECURITY MARKET, BY SOFTWARE, 2023-2032 (IN $ MILLION)

FIGURE 10: EUROPE CYBER SECURITY MARKET, BY SERVICE, 2023-2032 (IN $ MILLION)

FIGURE 11: EUROPE CYBER SECURITY MARKET, GROWTH POTENTIAL, BY SERVICE, IN 2022

FIGURE 12: EUROPE CYBER SECURITY MARKET, BY PROFESSIONAL SERVICES, 2023-2032 (IN $ MILLION)

FIGURE 13: EUROPE CYBER SECURITY MARKET, BY MANAGED SERVICES, 2023-2032 (IN $ MILLION)

FIGURE 14: EUROPE CYBER SECURITY MARKET, GROWTH POTENTIAL, BY SOLUTION, IN 2022

FIGURE 15: EUROPE CYBER SECURITY MARKET, BY UNIFIED THREAT MANAGEMENT, 2023-2032 (IN $ MILLION)

FIGURE 16: EUROPE CYBER SECURITY MARKET, BY IDS/IPS, 2023-2032 (IN $ MILLION)

FIGURE 17: EUROPE CYBER SECURITY MARKET, BY DLP, 2023-2032 (IN $ MILLION)

FIGURE 18: EUROPE CYBER SECURITY MARKET, BY IAM, 2023-2032 (IN $ MILLION)

FIGURE 19: EUROPE CYBER SECURITY MARKET, BY SIEM, 2023-2032 (IN $ MILLION)

FIGURE 20: EUROPE CYBER SECURITY MARKET, BY DDOS, 2023-2032 (IN $ MILLION)

FIGURE 21: EUROPE CYBER SECURITY MARKET, BY RISK & COMPLIANCE, 2023-2032 (IN $ MILLION)

FIGURE 22: EUROPE CYBER SECURITY MARKET, BY OTHER SOLUTIONS, 2023-2032 (IN $ MILLION)

FIGURE 23: EUROPE CYBER SECURITY MARKET, GROWTH POTENTIAL, BY SECURITY TYPE, IN 2022

FIGURE 24: EUROPE CYBER SECURITY MARKET, BY ENDPOINT SECURITY, 2023-2032 (IN $ MILLION)

FIGURE 25: EUROPE CYBER SECURITY MARKET, BY CLOUD SECURITY, 2023-2032 (IN $ MILLION)

FIGURE 26: EUROPE CYBER SECURITY MARKET, BY NETWORK SECURITY, 2023-2032 (IN $ MILLION)

FIGURE 27: EUROPE CYBER SECURITY MARKET, BY APPLICATION SECURITY, 2023-2032 (IN $ MILLION)

FIGURE 28: EUROPE CYBER SECURITY MARKET, BY INFRASTRUCTURE PROTECTION, 2023-2032 (IN $ MILLION)

FIGURE 29: EUROPE CYBER SECURITY MARKET, BY DATA SECURITY, 2023-2032 (IN $ MILLION)

FIGURE 30: EUROPE CYBER SECURITY MARKET, BY OTHER SECURITY TYPES, 2023-2032 (IN $ MILLION)

FIGURE 31: EUROPE CYBER SECURITY MARKET, GROWTH POTENTIAL, BY DEPLOYMENT, IN 2022

FIGURE 32: EUROPE CYBER SECURITY MARKET, BY CLOUD-BASED, 2023-2032 (IN $ MILLION)

FIGURE 33: EUROPE CYBER SECURITY MARKET, BY ON-PREMISES, 2023-2032 (IN $ MILLION)

FIGURE 34: EUROPE CYBER SECURITY MARKET, GROWTH POTENTIAL, BY ORGANIZATION SIZE, IN 2022

FIGURE 35: EUROPE CYBER SECURITY MARKET, BY LARGE ENTERPRISES, 2023-2032 (IN $ MILLION)

FIGURE 36: EUROPE CYBER SECURITY MARKET, BY MEDIUM ENTERPRISES, 2023-2032 (IN $ MILLION)

FIGURE 37: EUROPE CYBER SECURITY MARKET, BY SMALL ENTERPRISES, 2023-2032 (IN $ MILLION)

FIGURE 38: EUROPE CYBER SECURITY MARKET, GROWTH POTENTIAL, BY INDUSTRY VERTICAL, IN 2022

FIGURE 39: EUROPE CYBER SECURITY MARKET, BY IT & TELECOM, 2023-2032 (IN $ MILLION)

FIGURE 40: EUROPE CYBER SECURITY MARKET, BY RETAIL, 2023-2032 (IN $ MILLION)

FIGURE 41: EUROPE CYBER SECURITY MARKET, BY BFSI, 2023-2032 (IN $ MILLION)

FIGURE 42: EUROPE CYBER SECURITY MARKET, BY HEALTHCARE, 2023-2032 (IN $ MILLION)

FIGURE 43: EUROPE CYBER SECURITY MARKET, BY GOVERNMENT, 2023-2032 (IN $ MILLION)

FIGURE 44: EUROPE CYBER SECURITY MARKET, BY MANUFACTURING, 2023-2032 (IN $ MILLION)

FIGURE 45: EUROPE CYBER SECURITY MARKET, BY ENERGY, 2023-2032 (IN $ MILLION)

FIGURE 46: EUROPE CYBER SECURITY MARKET, BY DEFENSE, 2023-2032 (IN $ MILLION)

FIGURE 47: EUROPE CYBER SECURITY MARKET, BY OTHER INDUSTRY VERTICALS 2023-2032 (IN $ MILLION)

FIGURE 48: EUROPE CYBER SECURITY MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 49: UNITED KINGDOM CYBER SECURITY MARKET, 2023-2032 (IN $ MILLION)

FIGURE 50: GERMANY CYBER SECURITY MARKET, 2023-2032 (IN $ MILLION)

FIGURE 51: FRANCE CYBER SECURITY MARKET, 2023-2032 (IN $ MILLION)

FIGURE 52: ITALY CYBER SECURITY MARKET, 2023-2032 (IN $ MILLION)

FIGURE 53: SPAIN CYBER SECURITY MARKET, 2023-2032 (IN $ MILLION)

FIGURE 54: BELGIUM CYBER SECURITY MARKET, 2023-2032 (IN $ MILLION)

FIGURE 55: NETHERLANDS CYBER SECURITY MARKET, 2023-2032 (IN $ MILLION)

FIGURE 56: REST OF EUROPE CYBER SECURITY MARKET, 2023-2032 (IN $ MILLION)

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