Europe Cyber Security Market is Expected to Reach Around USD 40 Billion in Terms of Revenue by the Year Ending 2023: Ken Research
GURUGRAM, India, Sept. 10, 2019 /PRNewswire/ --
- Cyberattack trends from the second half of 2018 to reveal that Banking Trojans represented 25% of all attacks aimed at enterprises during Q2 and Q3 of 2018.
- According to the Industry articles, Cybercrime could cost companies USD 5.2trillion over the next five years unless significant improvements to internet security are implemented.
- The ICT Industry is further expected to become a key developing industry as 30% of enterprises with 1,000+ employees are currently using AI-powered security solutions with this number expected to grow to more than 60% by 2020
Healthcare, Retail and ICT Industry gaining Traction in Europe: Europe is witnessing growth in its Healthcare, Retail and ICT Sector due to the overall development in the Europe's Economy. The Europe's ICT sector is the driving force for growth and transformation in the European economy as Europe has emerged as a production center for both IT hardware and services such as software development outsourcing.
Incline Towards Digitization in the Small and Medium Enterprises (SMEs) Sector: The SMEs in Europe are digitalizing rapidly and exploiting the power of technology to increase its revenue and cater to a larger number of customers within and beyond their geographical boundaries. Owning an appropriate IT infrastructure plays a very important role in the growth of SMEs in Europe. The growing number of SMEs in Europe is moving towards adopting security solutions that will positively impact the cyber security market in Europe in the near future.
Technological Advancement: Threat from cybercriminals is becoming increasingly sophisticated, so security needs to be able to adapt in order to keep up. There have been a number of recent technological developments which will directly require the security solutions for a safer cyber environment. The adoption of the technologies such as IoT security, cloud technology, block chain, artificial intelligence and others has been growing in Europe resulting in the growth of the cyber security market. The adoption of these technologies would increase the cyber crimes in the country which in result would witness a higher demand for the security solutions for protecting these technologies form the cyber crimes.
Analysts at Ken Research in their latest publication "Europe Cyber Security Industry Outlook to 2023– By Solutions (Firewall, Intrusion detection system, Antivirus, Identity and Access Management, Encryption, Data Loss Prevention, UTM, Disaster Recovery and Others (IoT Devices), By Industry Verticals (Banking & Finance, Government, IT & Telecom, Retail, Healthcare, Energy & Power, Private User and Others), By Security Deployed (Network Security, Application Security, End-Point Security, Mobile Security, Content Security and Cloud Security)" believe that the cyber security industry in the Europe has been growing and will expand further due to increasing cyber crimes, rising cyber privacy awareness firms, growth in the sectors such as Retail, ICT, and others, increasing internet penetration in the country, increase in the demand for data security by the Small and Medium Enterprise (SMEs) and development in the economy. The market is expected to register a positive CAGR of 8.9% for cyber security market in terms of revenue during the forecast period 2018-2023.
Key Segments Covered
- Cyber Security Market
- By Imported & Domestic Security Solutions
- By Solutions
- Intrusion Detection System (IDS/IPS)
- Identity and Access Management (IAM)
- Unified Threat Management (UTM)
- Data Loss Prevention (DLP)
- Disaster Recovery
- IoT devices
- By Industry Verticals
- Banking & Finance
- IT & Telecom
- Energy & Power
- Private Use
- By Security Deployed
- Network Security
- Application Security
- End- Point Security
- Mobile & Wireless Security
- Content Security
- Cloud Security
- Key Target Audience
- Banks and Finacial Institutions
- Government Organizations
- Retail Companies
- Hospitals and Clinics
- Cloud Computing Services Companies
- IT- Companies
- Home Users
Time Period Captured in the Report:
- Historical Period - 2013-2018
- Forecast Period – 2018-2023
Major Companies Covered:
- Check Point Software Technologies Ltd
- Symantec Corporation
- Trend Micro
- CMC Corporation
- Other Players
- BAE Systems
- IBM Corporation
- Sentry Bay
- Fire Eye
Key Topics Covered in the Report
- Executive Summary
- Research Methodology
- Major Cyber Attacks in Europe
- Snapshot of Cyber Security Market in European Countries
- Trends and Growth Drivers in Europe Cyber Security Market
- Europe Cyber Security Market
- Introduction to Europe Cyber Security Market
- Business Model Analysis of Europe Cyber Security Market
- Europe Cyber Security Market Size, 2013-2018
- Europe Cyber Security Market Segmentation, 2013-2018
- Competition Landscape in the Europe Cyber Security Market
- Europe Cyber Security Market Future Outlook and Projections, 2018-2023E
- Issues and Challenges in Europe Cyber Security Market
- Decision Making Parameters in Hiring a Cyber Security Company in Europe
- Pain Points faced by the end users after purchasing a security Solution in Europe
- Technologies used in the Cyber Security Market
- SWOT Analysis of Europe Cyber Security Market
- Government Regulations in the Europe Cyber Security Market
- Company Profiles of Major Players in Europe Cyber Security Market
- Analyst Recommendations
For more information on the market research report, please refer to the below link:
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