Europe Cyber Security Market - Growth, Trends, and Forecasts (2020 - 2025)

The Europe Cyber Security Market is Segmented by Product Type (Solutions, Services), Deployment (Cloud, On-Premise), End-user Industry (Aerospace and Defense, Banking, Financial Services & Insurance, Healthcare, Manufacturing, Retail, Public Utility, IT and Telecommunication), and Country.

Market Snapshot

Study Period:

2020-2025

Base Year:

2019

CAGR:

10 %

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Market Overview

The European Cyber Security Market is expected to register a CAGR of approximately 10% during the forecast period (2020 - 2025). The adoption of cybersecurity solutions is expected to increase with the increasing penetration of the internet throughout Europe's major countries. Also, the expanding wireless network catering to mobile devices has enhanced data vulnerability.

  • Cybersecurity is going to be an integral part of every single organization across Europe. The need for security solutions is marked by private financial and banking service sectors being victims of cyber-attacks worth a couple of billion dollars in the past couple of years.
  • The key drivers for this market are the increasing government regulations on data privacy, rising cyber threats, a growing number of data centers, which are the most significant revenue generators for the cybersecurity market. However, factors hindering the market's growth are the lack of awareness and availability of pirated cybersecurity solutions.
  • There has been a rise in connected devices over the last few years. This trend is estimated to reach at least half a trillion connected devices on the planet by 2020. With the technological advancements in data transfers, cloud services are becoming more common. The public cloud has been emerging. This technological advancement has resulted in the faster transfer of phishing emails, bots, and ransomware, indicating the vulnerabilities brought in by them.
  • These factors are also expected to motivate individuals to switch to cybersecurity solutions, along with the corporates, in the future, as significant attacks are from outsiders. In these cases, a protective measure is currently one of the ideal tools to mitigate cyber threats.
  • The region is also witnessing an increase in cybersecurity measures due to the outbreak of COVID-19. The UK's National Cyber Security Centre (NCSC) has issued a public alert and fresh guidance as more cybercriminals are targeting the potential of COVID-19 to gain sensitive information from users spending significant time on the internet owing to the lock-down situation. The NCSC mentioned that it is witnessing an increase in the registration of websites relating to the coronavirus. In the past few days, NCSC has added new automation measures to identify and remove sites using the coronavirus as bait to serve malware to unsuspecting visitors.

Scope of the report

Cyber threats are internet-based efforts to disrupt or damage information systems and hack crucial information using malware, spyware, and phishing. Cybersecurity solutions aid an organization to monitor, detect, report, and counter cyber threats to maintain data confidentiality.

By Product Type
Solutions
Identity and Access Management
Threat Detection and Prevention (Unified Threat Management and Threat Mitigation)
Security and Vulnerability Management
DDoS Mitigation
Next Generation Firewall
IDS/IPS​
Security Information and Event Management
Email Security
Endpoint Security
IoT Security
Other Solutions
Services
By Deployment
On-cloud
On-premise
By End-user Industry
Aerospace and Defense
Banking, Financial Services & Insurance
Healthcare
Manufacturing
Retail
Public Utility
IT and Telecommunication
Other End-user Industries
By Country
United Kingdom
Germany
France
Italy
Rest of Europe

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Key Market Trends

Retail Sector Expected to Exhibit Significant Growth

  • The European retail sector has seen significant growth in the region due to supermarkets and hypermarkets' expansion into omnichannel and e-commerce business models. The retail industry's growth is expected to impact cybersecurity, as it is investing heavily in customer satisfaction and retention. The use of software and digitization, with necessitated internet connectivity, makes retail an ideal cybersecurity market segment.
  • According to the survey, commissioned by IT automation and security firm Infoblox, 63% of the UK and 62% of German retailers demanded to increase cybersecurity measures during the holiday season.
  • The primary reason cited for the increase by one-third of respondents in these countries was an annual rise in social engineering attacks, which were also recognized as a dominant concern for 25% of IT professionals in the Netherlands' retail sector.
  • The growing penetration of technology facilitators in the region, coupled with increasing acceptance of virtual shopping, has bolstered the e-commerce ecosystem. However, they have increased the need for a robust network to secure the online website itself and ensure the customers' financial data and sensitive information.

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France is Expected to Hold a Majority Share

  • France is expected to hold a significant share in the cybersecurity market in the Europe region. According to Eurostat, the highest percentage of people who experienced security-related problems was in Denmark (50%), followed by France (46%), Sweden (45%), Malta (42%), Netherlands (42%), Bulgaria (13%) and Greece (13%).
  • The French national cybersecurity strategy aims to accompany the French society's digital transformation initiatives and address the new challenges faced due to the changing uses of digital technology and the associated threats.
  • Several regional companies from various end-user industries are adopting cybersecurity as a significant tool to secure their valuable assets and maintaining cybersecurity. For instance, in October 2019, French Defense firms, Thales and Airbus, collaborated to integrate both the companies' cybersecurity products into one defense offering. Airbus' cybersecurity application Orion Malware works with Thales' Cybels Sensor detection system to provide the French customers with a robust defense cybersecurity solution.
  • Moreover, according to the country's cybersecurity team, CERT-FR, there has been a significant rise in the number of France ransomware attacks amidst the global outbreak of coronavirus. According to the agency, a gang of ransomware attackers is targeting many government networks at the local level. This is majorly due to the increase in the number of work from home employees, which provides the online criminals the leverage of attacking remote workforces and corporate systems.

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Competitive Landscape

The competitive landscape of the European Cybersecurity market is moderately fragmented due to several regional market players offering cybersecurity solutions. The market players are viewing strategic partnerships and acquisitions as a lucrative path towards expanding their market share. Also, several global cybersecurity providers are expanding their presence and strengthening their foothold in the European region. Some of the recent developments in the market are:

  • February 2020 - Mastercard is developing a Cyber Resilience Centre designed to foster cybersecurity collaboration between the public and private sectors. Located in Belgium, alongside Mastercard's European headquarters, the center is expected to be the first of Europe's kind. It is based on the card scheme's prior projects in North America.
  • July 2019 - Orange acquired SecureLink, an independent cybersecurity player in Europe. With SecureLink's strong presence in Europe, Orange is significantly strengthening its ability to support customers across their regional footprints, while developing a unique scale in the industry.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Buyers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Intensity of Competitive Rivalry

      5. 4.2.5 Threat of Substitutes

    3. 4.3 Industry Guidelines and Policies

    4. 4.4 Assessment of Impact of COVID-19 on the Industry

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Rapidly Increasing Cybersecurity Incidents and Regulations Requiring Their Reporting

      2. 5.1.2 Growing M2M/IoT Connections Demanding Strengthened Cybersecurity in Enterprises

    2. 5.2 Market Restraints

      1. 5.2.1 Lack of Cybersecurity Professionals

      2. 5.2.2 High Reliance on Traditional Authentication Methods and Low Preparedness

    3. 5.3 Market Opportunities

      1. 5.3.1 Rise in the Trends of IoT, BYOD, Artificial Intelligence, and Machine Learning In Cybersecurity

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Product Type

      1. 6.1.1 Solutions

        1. 6.1.1.1 Identity and Access Management

        2. 6.1.1.2 Threat Detection and Prevention (Unified Threat Management and Threat Mitigation)

        3. 6.1.1.3 Security and Vulnerability Management

        4. 6.1.1.4 DDoS Mitigation

        5. 6.1.1.5 Next Generation Firewall

        6. 6.1.1.6 IDS/IPS​

        7. 6.1.1.7 Security Information and Event Management

        8. 6.1.1.8 Email Security

        9. 6.1.1.9 Endpoint Security

        10. 6.1.1.10 IoT Security

        11. 6.1.1.11 Other Solutions

      2. 6.1.2 Services

    2. 6.2 By Deployment

      1. 6.2.1 On-cloud

      2. 6.2.2 On-premise

    3. 6.3 By End-user Industry

      1. 6.3.1 Aerospace and Defense

      2. 6.3.2 Banking, Financial Services & Insurance

      3. 6.3.3 Healthcare

      4. 6.3.4 Manufacturing

      5. 6.3.5 Retail

      6. 6.3.6 Public Utility

      7. 6.3.7 IT and Telecommunication

      8. 6.3.8 Other End-user Industries

    4. 6.4 By Country

      1. 6.4.1 United Kingdom

      2. 6.4.2 Germany

      3. 6.4.3 France

      4. 6.4.4 Italy

      5. 6.4.5 Rest of Europe

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 IBM Corporation

      2. 7.1.2 Cisco Systems Inc.

      3. 7.1.3 Dell Inc.

      4. 7.1.4 Qualys Inc.

      5. 7.1.5 Check Point Software Technologies Ltd

      6. 7.1.6 Symantec Corporation

      7. 7.1.7 Trend Micro Inc.

      8. 7.1.8 Fortinet Inc.

      9. 7.1.9 FireEye Inc.

      10. 7.1.10 Darktrace Ltd

      11. 7.1.11 CyberArk Software Ltd

      12. 7.1.12 AVG Technologies

      13. 7.1.13 Rapid7, Inc.

  8. *List Not Exhaustive
  9. 8. INVESTMENT ANALYSIS

  10. 9. FUTURE OF THE MARKET

** Subject to Availability

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