Market Size of Norway Cybersecurity Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.50 % |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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Norway Cybersecurity Market Analysis
The Norway Cyber Security Market is expected to register a CAGR of 11.5% during the forecast period. The adoption of cybersecurity solutions is expected to increase with the increasing penetration of the internet throughout Norway. Also, the expanding wireless network catering to mobile devices has enhanced data vulnerability.
- Norway is one of the world's leading digital nations. Over the next few years, technology will bring about significant changes. Robotics, sensor technology, 3D printing, big data, and artificial intelligence are all examples of technological developments that have the potential to change society. As digitization increases, the nation's data security needs to be increased.
- Norway's government 2022 has planned to spend NOK 10 million to increase digital resilience in society through the development of digital tools for enterprises to assess the security of their systems, a single digital security portal for authorities to be used by citizens, businesses, and municipalities, and information campaigns to raise awareness among citizens and companies.
- Norwegian companies are increasingly outsourcing operational and systems development tasks to suppliers in other countries and continents, resulting in many security and emergency challenges. Local operating conditions and other national regulations and practices may differ from Norwegian ICT security requirements or privacy and personal information regulations. The lack of transparency makes it difficult for Norwegian authorities to conduct inspections and control activities.
- The rising usage of new service platforms, such as online and cloud computing, results in less transparent solutions, making it more difficult for users to assess risk and vulnerability and document their security.
- The COVID-19 epidemic has emphasized the necessity for increased digital security. People have increased their internet access to maintain personal and professional work. On the other hand, hackers have taken advantage of the situation, focusing on e-commerce, e-payment businesses, and the healthcare system.
