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UNITED KINGDOM CYBER SECURITY MARKET FORECAST 2023-2030

SCOPE OF THE REPORT

United Kingdom 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)

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MARKET OVERVIEW

The United Kingdom cyber security market growth is anticipated to progress at a CAGR of 9.40% during the forecast period, 2023-2030, and is predicted to project a revenue of $2260.62 million by 2030.

Cybersecurity is of utmost importance in the United Kingdom (UK), given the nation’s heavy reliance on digital technology and the internet. To address cybersecurity challenges and protect the digital infrastructure, businesses, and citizens, the UK government collaborates with the private sector, implementing numerous strategies and initiatives. The National Cyber Security Centre (NCSC) plays a pivotal role in offering guidance, threat intelligence, and coordinating incident responses. The UK’s National Cyber Security Strategy is comprehensive, focusing on strengthening cyber defenses, nurturing a skilled cybersecurity workforce, and promoting international cooperation.

Further, the UK actively encourages public-private partnerships to bolster collective efforts in cybersecurity. These partnerships aim to share threat information and best practices. Legislation and regulations, such as the Network and Information Systems (NIS) Directive and the General Data Protection Regulation (GDPR), are in place to enforce cybersecurity standards and data protection measures. Additionally, the UK places significant emphasis on raising awareness and educating the public about cybersecurity through various campaigns and initiatives, with the goal of promoting good cybersecurity practices.

United Kingdom Cybersecurity Market

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The United Kingdom cyber security market segmentation includes solution, component, deployment, security type, organization size, and industry vertical. The industry vertical segment includes defense, IT & telecom, government, BFSI, retail, manufacturing, healthcare, energy, and other industry verticals.

Security in the Banking, Financial Services, and Insurance (BFSI) sector is of utmost importance, serving as the foundation for safeguarding financial transactions, customer information, and vital infrastructure. Given that the BFSI sector handles a wealth of confidential financial data, it naturally becomes an appealing target for cyber threats. The significance of cyber security within the BFSI industry lies in upholding the confidentiality, integrity, and availability of financial data and services, all of which are pivotal for maintaining customer trust and ensuring the sector’s stability and growth.

The applications of cyber security in the BFSI field are diverse and multifaceted. They encompass the protection of online banking platforms, the security of customer databases, the assurance of secure transactions, the implementation of robust authentication processes, and fortification against a wide range of cyber threats, including phishing, malware, and social engineering. Additionally, cyber security plays a vital role in meeting regulatory requirements such as Basel III, GDPR, and PCI DSS, which are essential for upholding operational standards and adhering to regulatory guidelines.

Numerous factors fuel the adoption of cyber security measures in the BFSI sector. These factors include the rapid digitization of financial services, the increasing complexity of cyber threats, and heightened regulatory scrutiny, all of which necessitate the implementation of robust cyber security measures. Moreover, the emergence of fintech, open banking, and mobile banking applications underscores the urgency of deploying cyber security strategies to effectively combat contemporary cyber threats.

However, the BFSI sector faces challenges in integrating cyber security measures. One significant challenge revolves around the ever-evolving threat landscape, where cybercriminals continuously develop advanced techniques to exploit vulnerabilities. The high-value nature of the BFSI sector further underscores the need for ongoing vigilance and adaptability in cyber security strategies, as it remains a prime target for malicious actors. Striking a balance between innovation and security also poses a challenge, as the sector strives to deliver innovative financial services while maintaining robust cyber security.

Some of the leading companies operating in the United Kingdom cyber security market are BAE Systems plc, Fortinet Inc, Cisco Systems Inc, etc.

BAE Systems plc is a security, aerospace, and defense company providing services and products for air, land, and naval forces. It designs, supports, and manufactures electronic systems, radars, surface ships, C4ISR, submarines, weapon systems, avionics, and military aircraft. The company also offers information technology, security, and advanced electronics solutions. It has a business presence in Australia, Saudi Arabia, the United States, and the United Kingdom, with headquarters in London, the United Kingdom.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2030
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Component, Solution, Security Type, Deployment, Organization Size, and Industry Vertical
Countries AnalyzedUnited Kingdom
Companies AnalyzedBAE Systems plc, Cisco Systems Inc, Fortinet Inc, International Business Machines Corporation, Lockheed Martin Corporation, McAfee LLC, 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. COUNTRY SNAPSHOT – UNITED KINGDOM
    3. COUNTRY ANALYSIS- UNITED KINGDOM
    4. SCOPE OF STUDY
    5. CRISIS SCENARIO ANALYSIS
      1. IMPACT OF COVID-19 ON CYBER SECURITY MARKET
    6. 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. PEST ANALYSIS – UNITED KINGDOM
    4. GROWTH PROSPECT MAPPING – UNITED KINGDOM
    5. MARKET MATURITY ANALYSIS
    6. MARKET CONCENTRATION ANALYSIS
    7. VALUE CHAIN ANALYSIS
    8. REGULATORY FRAMEWORK
  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. 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. CISCO SYSTEMS INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      3. FORTINET INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      4. INTERNATIONAL BUSINESS MACHINES CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      5. LOCKHEED MARTIN CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      6. MCAFEE LLC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      7. TREND MICRO INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – CYBER SECURITY

TABLE 2: COUNTRY SNAPSHOT – UNITED KINGDOM

TABLE 3: REGULATORY FRAMEWORK

TABLE 4: UNITED KINGDOM CYBER SECURITY MARKET, BY COMPONENT, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: UNITED KINGDOM CYBER SECURITY MARKET, BY COMPONENT, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 6: UNITED KINGDOM CYBER SECURITY MARKET, BY SERVICE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: UNITED KINGDOM CYBER SECURITY MARKET, BY SERVICE, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 8: UNITED KINGDOM CYBER SECURITY MARKET, BY SOLUTION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 9: UNITED KINGDOM CYBER SECURITY MARKET, BY SOLUTION, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 10: UNITED KINGDOM CYBER SECURITY MARKET, BY SECURITY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 11: UNITED KINGDOM CYBER SECURITY MARKET, BY SECURITY TYPE, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 12: UNITED KINGDOM CYBER SECURITY MARKET, BY DEPLOYMENT, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 13: UNITED KINGDOM CYBER SECURITY MARKET, BY DEPLOYMENT, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 14: UNITED KINGDOM CYBER SECURITY MARKET, BY ORGANIZATION SIZE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 15: UNITED KINGDOM CYBER SECURITY MARKET, BY ORGANIZATION SIZE, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 16: UNITED KINGDOM CYBER SECURITY MARKET, BY INDUSTRY VERTICAL, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 17: UNITED KINGDOM CYBER SECURITY MARKET, BY INDUSTRY VERTICAL, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 18: LIST OF MERGERS & ACQUISITIONS

TABLE 19: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 20: 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 UNITED KINGDOM

FIGURE 4: MARKET MATURITY ANALYSIS

FIGURE 5: MARKET CONCENTRATION ANALYSIS

FIGURE 6: VALUE CHAIN ANALYSIS

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

FIGURE 8: UNITED KINGDOM CYBER SECURITY MARKET, BY HARDWARE, 2023-2030 (IN $ MILLION)

FIGURE 9: UNITED KINGDOM CYBER SECURITY MARKET, BY SOFTWARE, 2023-2030 (IN $ MILLION)

FIGURE 10: UNITED KINGDOM CYBER SECURITY MARKET, BY SERVICE, 2023-2030 (IN $ MILLION)

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

FIGURE 12: UNITED KINGDOM CYBER SECURITY MARKET, BY PROFESSIONAL SERVICES, 2023-2030 (IN $ MILLION)

FIGURE 13: UNITED KINGDOM CYBER SECURITY MARKET, BY MANAGED SERVICES, 2023-2030 (IN $ MILLION)

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

FIGURE 15: UNITED KINGDOM CYBER SECURITY MARKET, BY UNIFIED THREAT MANAGEMENT, 2023-2030 (IN $ MILLION)

FIGURE 16: UNITED KINGDOM CYBER SECURITY MARKET, BY IDS/IPS, 2023-2030 (IN $ MILLION)

FIGURE 17: UNITED KINGDOM CYBER SECURITY MARKET, BY DLP, 2023-2030 (IN $ MILLION)

FIGURE 18: UNITED KINGDOM CYBER SECURITY MARKET, BY IAM, 2023-2030 (IN $ MILLION)

FIGURE 19: UNITED KINGDOM CYBER SECURITY MARKET, BY SIEM, 2023-2030 (IN $ MILLION)

FIGURE 20: UNITED KINGDOM CYBER SECURITY MARKET, BY DDOS, 2023-2030 (IN $ MILLION)

FIGURE 21: UNITED KINGDOM CYBER SECURITY MARKET, BY RISK & COMPLIANCE, 2023-2030 (IN $ MILLION)

FIGURE 22: UNITED KINGDOM CYBER SECURITY MARKET, BY OTHER SOLUTIONS, 2023-2030 (IN $ MILLION)

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

FIGURE 24: UNITED KINGDOM CYBER SECURITY MARKET, BY ENDPOINT SECURITY, 2023-2030 (IN $ MILLION)

FIGURE 25: UNITED KINGDOM CYBER SECURITY MARKET, BY CLOUD SECURITY, 2023-2030 (IN $ MILLION)

FIGURE 26: UNITED KINGDOM CYBER SECURITY MARKET, BY NETWORK SECURITY, 2023-2030 (IN $ MILLION)

FIGURE 27: UNITED KINGDOM CYBER SECURITY MARKET, BY APPLICATION SECURITY, 2023-2030 (IN $ MILLION)

FIGURE 28: UNITED KINGDOM CYBER SECURITY MARKET, BY INFRASTRUCTURE PROTECTION, 2023-2030 (IN $ MILLION)

FIGURE 29: UNITED KINGDOM CYBER SECURITY MARKET, BY DATA SECURITY, 2023-2030 (IN $ MILLION)

FIGURE 30: UNITED KINGDOM CYBER SECURITY MARKET, BY OTHER SECURITY TYPES, 2023-2030 (IN $ MILLION)

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

FIGURE 32: UNITED KINGDOM CYBER SECURITY MARKET, BY CLOUD-BASED, 2023-2030 (IN $ MILLION)

FIGURE 33: UNITED KINGDOM CYBER SECURITY MARKET, BY ON-PREMISES, 2023-2030 (IN $ MILLION)

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

FIGURE 35: UNITED KINGDOM CYBER SECURITY MARKET, BY LARGE ENTERPRISES, 2023-2030 (IN $ MILLION)

FIGURE 36: UNITED KINGDOM CYBER SECURITY MARKET, BY MEDIUM ENTERPRISES, 2023-2030 (IN $ MILLION)

FIGURE 37: UNITED KINGDOM CYBER SECURITY MARKET, BY SMALL ENTERPRISES, 2023-2030 (IN $ MILLION)

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

FIGURE 39: UNITED KINGDOM CYBER SECURITY MARKET, BY IT & TELECOM, 2023-2030 (IN $ MILLION)

FIGURE 40: UNITED KINGDOM CYBER SECURITY MARKET, BY RETAIL, 2023-2030 (IN $ MILLION)

FIGURE 41: UNITED KINGDOM CYBER SECURITY MARKET, BY BFSI, 2023-2030 (IN $ MILLION)

FIGURE 42: UNITED KINGDOM CYBER SECURITY MARKET, BY HEALTHCARE, 2023-2030 (IN $ MILLION)

FIGURE 43: UNITED KINGDOM CYBER SECURITY MARKET, BY GOVERNMENT, 2023-2030 (IN $ MILLION)

FIGURE 44: UNITED KINGDOM CYBER SECURITY MARKET, BY MANUFACTURING, 2023-2030 (IN $ MILLION)

FIGURE 45: UNITED KINGDOM CYBER SECURITY MARKET, BY ENERGY, 2023-2030 (IN $ MILLION)

FIGURE 46: UNITED KINGDOM CYBER SECURITY MARKET, BY DEFENSE, 2023-2030 (IN $ MILLION)

FIGURE 47: UNITED KINGDOM CYBER SECURITY MARKET, BY OTHER INDUSTRY VERTICALS 2023-2030 (IN $ MILLION)

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