France Cybersecurity Market Size (2024 - 2029)

France Cybersecurity Market Analysis

The France Cybersecurity Market size is estimated at USD 8.18 billion in 2024, and is expected to reach USD 13.97 billion by 2029, growing at a CAGR of 11.29% during the forecast period (2024-2029).

The market's expansion might be attributed to the sophistication of cyberattacks, which are rising. Over the past ten years, the number and severity of cybercrimes and scams have escalated, causing enormous losses for enterprises. Businesses worldwide have focused their expenditure on cutting-edge information security solutions to bolster their internal security infrastructures as cybercrimes have dramatically escalated. The use of targeted assaults, which penetrate targets' network infrastructure while remaining anonymous, has increased recently. Endpoints, networks, on-premises devices, cloud-based apps, data, and numerous other IT infrastructures are frequently targeted by attackers who have a specific target.

• The adoption of IoT and the BYOD trend, as well as an increase in malware and phishing threats among businesses, are driving the expansion of the cyber security industry. In addition, the market is expanding favorably due to the spike in demand for cloud-based cyber security solutions. The market's expansion is hampered by organizational budget restrictions and the complexity of device security. On the other hand, the rise in mobile platforms and applications, the demand for secure authentication methods, and the change in the traditional antivirus software sector are anticipated to provide lucrative prospects for market growth throughout the forecast period.
• Businesses can incorporate other infrastructure technologies, such as software-defined perimeters, when using the cloud to build dependable and highly secure platforms. Governments in numerous nations establish specific recommendations and legislation for cloud platform security, which fuels the global cyber security market expansion. By switching to cloud-based platforms like Software-as-a-Service (SaaS) and Infrastructure-as-a-Service, SMEs are always looking to upgrade their applications and infrastructures (IaaS). Cybercriminals target most SMEs across all industries to take advantage of holes in their security model. Cloud-based apps cannot be protected from cyberattacks like malware, ransomware, phishing, and DNS data exfiltration by conventional appliance-based firewalls and security gateways.
• According to the HiscoxCyber Readiness Report 2021, France reported Nearly half (49%) of French firms had a cyber-attack - up from just over a third (34%) the previous year. Furthermore, In February 2021, President Macron of France announced the launch of a new cybersecurity center in Paris this year, which spans 20,000 square meters and is owned by 60 entities operating in the cybersecurity space. The president also announced that the goal was to enhance the growth of the French cybersecurity companies by reaching an annual sales of EUR 25 billion by 2025.
• Organizations rely on diverse professionals to safeguard their systems, employees, and data. Organizations in the region struggle to find talented professionals to help them defend against these risks when cyber threats are increasing faster than at any other time in history. A global cybersecurity workforce shortage continues to be a problem for businesses of all sizes and industries. The increasing importance of a broader mix of technical and non-technical skills underscores today's cybersecurity roles are multi-dimensional and increasingly varied across specializations, organizations, and industries.
• With the increase in the number of people working from home, enterprise instituted work-from-home (WFH) policies shifted information security focus from enterprise infrastructure to cloud and virtualized infrastructure. Employees working from home rely on home Wi-Fi routers and VPN connections to company infrastructure, and misconfigurations, combined with a more lackadaisical approach to working from home, risk the leakage and theft of sensitive company information. Moreover, the massive increase in bandwidth consumption puts most organizations at risk of DDoS attacks.

France Cybersecurity Industry Segmentation

IT advancement, communication technologies, and smart energy grids are changing the landscapes of almost every country's critical infrastructure and business networks. However, with rapidly changing technology comes rapidly advancing threats.

Cybersecurity solutions help an organization to monitor, detect, report, and counter cyber threats, which are internet-based attempts to damage or disrupt information systems and hack critical information, using spyware and malware, and by phishing, in order to maintain data confidentiality.