Europe Cybersecurity Market Report

Market Overview:

The Europe cybersecurity market size is projected to exhibit a growth rate (CAGR) of 8.9% during 2024-2032. The rising shift toward remote working model, increasing governments initiatives and strategies to bolster the region's cybersecurity, the rising digital transformation, the enforcement of strict regulations, and the increasing number and sophistication of cyberattacks represent some of the key factors driving the market.

Cybersecurity is an essential discipline focused on the protection and defense of systems, networks, and data from various forms of cyber threats. These threats encompass a broad range of malicious activities, such as hacking, phishing, malware, ransomware, and data breaches, which aim to steal, alter, or destroy a target's data. They can be enacted by individual hackers or organized crime groups and can even have state sponsorship. Cybersecurity is not just a concern for large corporations or governments; it's a crucial matter for individuals and small businesses as well. Effective cybersecurity practices encompass a blend of people, processes, and technology. This combination helps to minimize the risk of cyberattacks, safeguard against unauthorized exploitation of systems, and protect the privacy, integrity, and accessibility of information. The field is dynamic, continuously evolving to counteract emerging threats and to keep pace with technological advancements in an increasingly interconnected digital world.

Europe Cybersecurity Market Trends:

The rising number and sophistication of cyberattacks are driving the need for enhanced cybersecurity measures, which represents one of the key factors driving the growth of the market across Europe. Cybercriminals are exploiting the vulnerabilities of remote working environments, IoT devices, and cloud services, which are necessitating better and more robust security solutions. As businesses across Europe continue to adopt digital technologies, they're becoming more exposed to cyber threats. The digital transformation drive, involving the migration of services and data storage to the cloud, expansion of e-commerce, and adoption of technologies like artificial intelligence (AI), the Internet of Things (IoT), and blockchain, is acting as a major growth-inducing factor. As digital footprints expand, so does the need for robust and comprehensive cybersecurity solutions. The enforcement of stringent regulations like the general data protection regulation (GDPR) and the directive on security of network and information systems (NIS Directive) is fueling the growth of the market. These regulations mandate businesses to adhere to strict data protection and security measures, which is driving demand for cybersecurity solutions. Non-compliance is resulting in hefty fines, which is motivating organizations to bolster their cybersecurity infrastructure. The shift toward remote working culture is leading to an expanded attack surface for cybercriminals, which is influencing the growth of the market. With employees accessing sensitive information from potentially insecure locations, businesses are investing in cybersecurity solutions to protect their data. There's a significant cybersecurity skills gap in Europe, leading companies to turn to external cybersecurity service providers. This skills shortage is driving growth in the market as businesses seek external expertise to protect their digital assets. Collaboration between the public and private sectors in developing cybersecurity strategies and sharing threat intelligence is creating a positive outlook for the market across the region.

Europe Cybersecurity Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the Europe cybersecurity market report, along with forecasts at the regional and country levels for 2024-2032. Our report has categorized the market based on component, deployment type, user type, and industry vertical.

Component Insights:

• Solutions 
  • Identity and Access Management (IAM)
  • Infrastructure Security
  • Governance, Risk and Compliance
  • Unified Vulnerability Management Service Offering
  • Data Security and Privacy Service Offering
  • Others
• Services 
  • Professional Services
  • Managed Services
     

The report has provided a detailed breakup and analysis of the market based on the component. This includes solutions [identity and access management (IAM), infrastructure security, governance, risk and compliance, unified vulnerability management service offering, data security and privacy service offering and others] and services [professional services and managed services].

Deployment Type Insights:

• Cloud-based
• On-premises
   

A detailed breakup and analysis of the market based on the deployment type has also been provided in the report. This includes cloud-based and on-premises.

User Type Insights:

• Large Enterprises
• Small and Medium Enterprises
   

A detailed breakup and analysis of the market based on the user type has also been provided in the report. This includes large enterprises and small and medium enterprises.

Industry Vertical Insights:

• IT and Telecom
• Retail
• BFSI
• Healthcare
• Defense/Government
• Manufacturing
• Energy
• Others
   

A detailed breakup and analysis of the market based on the industry vertical has also been provided in the report. This includes IT and telecom, retail, BFSI, healthcare, defense/government, manufacturing, energy, and others.

Country Insights:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Germany, France, the United Kingdom, Italy, Spain, and others.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the Europe cybersecurity market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Europe Cybersecurity Market Report Coverage:

Key Questions Answered in This Report:

• How has the Europe cybersecurity market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Europe cybersecurity market?
• What is the breakup of the Europe cybersecurity market on the basis of components?
• What is the breakup of the Europe cybersecurity market on the basis of deployment type?
• What is the breakup of the Europe cybersecurity market on the basis of user type?
• What is the breakup of the Europe cybersecurity market on the basis of industry vertical?
• What are the various stages in the value chain of the Europe cybersecurity market?
• What are the key driving factors and challenges in the Europe cybersecurity market?
• What is the structure of the Europe cybersecurity market and who are the key players?
• What is the degree of competition in the Europe cybersecurity market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Europe cybersecurity market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the Europe cybersecurity market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Europe cybersecurity industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.