Market Trends of France Cybersecurity Industry
This section covers the major market trends shaping the France Cybersecurity Market according to our research experts:
Network Security is Expected to Gain Popularity
- According to Eurostat the highest share of people who experienced security-related problems were in Denmark (50%), followed by France (46%), Sweden (45%), Malta (42%), Netherlands (42%), Bulgaria (13%) and Greece (13%.). Network security and data loss prevention are expected to be the priority for industries, with a substantial amount of money being wasted in trying to recover data that is lost through these attacks.
- AN Engineering consultancy firm Altran Technologies based in France experienced a cyber attack, which resulted in the shutdown of its IT network and applications lead to operations in some of the European countries, including France.
- Moreover, the country has also started investing in its IT infrastructure, especially for cybersecurity, to gain a defense against such attacks. These spendings are expected to increase further in the forecast period, which may drive the demand for cybersecurity solutions.
- The use of 5G technology is rising quickly. By delivering improved network solutions, 5G increases bandwidth use, dependability, and latency while enabling devices to operate at high rates. As a result, 5G has gained considerable traction in fields including artificial intelligence (AI), machine learning (ML), and industrial IoT. More data is anticipated to be shared over the network as 5G technology is rapidly incorporated into business applications, creating new risks to data security. Cyberattackers are a problem for users as well as 5G service providers. Thus, the increasing use of 5G services is likely to propel the global network security market.
- In January 2022, Check Point Software Technologies Ltd. introduced a secure access service edge solution to link remote and hybrid workforces. To combine effective network access with threat protection, the upgraded secure access service will provide VPN-as-a-service, security upgrades, and PoPs that can quickly adapt to business requirements.
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Retail Sector Expected to Gain Maximum Traction
- Consumers' habits and behaviors changed in the context of the digital revolution, greatly strengthening the relative power of a consumer. The perception of a customer toward a purchase is changing due to the ability to quickly access an increasingly wide offering of products and solutions through various devices, such as PCs, smartphones, and tablets.
- On the other hand, brick and mortar stores are using technological innovation to enable new ways of business with an omnichannel approach. A retailer focuses on combining and integrating different channels (retail stores, websites, mobile applications, etc.) to support the interaction between a company and consumer in the pre-sale, purchasing, and post-sale stages.
- Due to the COVID-19 pandemic, consumers confined to their homes had to go online to access essential goods, forcing them to adopt digital consumer habits, educate themselves to become digital consumers, and now enjoy the benefits that digital products bring. People skeptical of e-commerce in the past, owing to security concerns, were compelled to make online purchases for the first time.
- Banks and retailers need to offer full, comprehensive experiences on the web and mobile for their clients, mobile payments, e-retail, P2P, and cross-border payments to become default choices for users in the region. According to FEDAV, In France, e-commerce accounted for over 14.1% of all retail sales in 2021, up from the 13.4% figure for the 2020 year. The increase in rise of e commerce will drive the demand of cybersecurity solutions to protect the data of users.
- The risk of identity theft and associated fraud is growing with the rise in digital identities. Mobile operators in the region recognize the need to work closely with governments and the wider industry to address these issues. Several local and international firms took several initiatives in the country to promote security and trust regarding Mobile Phoneusage for e-commerce transactions, including Mobile Connect, which has a fast, secure login system that enables individuals to access their online accounts with one click. It provides different levels of security, from low-level website access to highly secure bank-grade authentication.
