Europe Cyber Security Market (2020-2026) | Size, Trend, Growth, industry, Forecast, Outlook & COVID-19 IMPACT

Europe cyber security market report thoroughly covers the market by components, offerings, deployments, verticals, and key countries including Germany, Italy, France, the United Kingdom, and the Rest of Europe. The Europe cyber security market outlook provides an unbiased and detailed analysis of the ongoing Europe cybersecurity market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Europe cyber security market Synopsis

Europe Cyber Security Market is anticipated to gain exponential growth during the upcoming years on account of growing digitization in small and medium-scale enterprises, government guidelines regarding data protection and cybersecurity, as well as increased penetration of smartphones and the internet, have driven the demand for cyber security solutions market in the European region. However, the lack of information and extremely intricate hacking techniques pose a serious challenge to the market.

According to 6Wresearch, Europe Cyber Security Market size is anticipated to grow during 2020-2026. Europe’s expanding digital infrastructure across sectors including Healthcare, Information Technology & Telecom, and Retail boosts the demand for cybersecurity services. For instance, European Union has passed a General Data Protection Regulation to ensure the privacy and protection of data at the national, as well as the international level which is expected to drive the market during the forecast period. Additionally, efforts by SMEs to enlarge their consumer base require them to digitize many aspects of their operations thereby pushing the demand for cybersecurity solutions forward. Growing acceptance of online shopping coupled with growing e-commerce channels is adding to the development of the market. Surging usage of software coupled with increasing internet connectivity is driving the Europe Cyber Security Market Share. The outburst of the coronavirus pandemic (Covid 19) has declined the growth of almost every industry. However, the Europe Cyber Security Market experience an upsurge due to the growing usage of the internet during the lockdown situation.

Europe cybersecurity market is estimated to witness substantial growth during the forecast period 2020-26F backed by the growth of industrial infrastructures such as the banking and insurance sector tends to generate high sales revenue owing to require a digitalized infrastructure to ensure smooth and safe services to their customers by using cybersecurity solution in the coming years. Moreover, ‘rise in the penetration of the internet of things coupled with an increase in demand for cybersecurity in order to reduce vulnerability from cyber attackers would acquire prominent share and would benefit Europe cybersecurity market garner profound growth in the coming timeframe.

Europe cybersecurity market is projected to register sound revenues during the forecast period 2020-26F backed by the rising employee security concern. Increased work efficiency during work and prevention of risk ensures smooth work which is shaping the commercial sector, as a result, is expected to spur the adoption of cybersecurity in the market. Further, the rising IT sector is estimated to acquire overall market share owing to rising high-security solutions like antivirus, wireless security, and antispam these are certain features impacting positively and would proliferate potential growth of Europe cybersecurity market in the upcoming six years.

Europe Cyber Security Market is projected to witness substantial growth during the forecast period 2020-26F backed by the rising growth of the IT and the corporate sector. Increased government necessity to save data from data breaching and cybersecurity helps in securing data from cyber attackers is expected to proliferate the use of the cybersecurity system in the market. Further, rising bank and insurance setups require cybersecurity and ensure a secure transaction process during the work and are expected to boost the optimistic growth of European cybersecurity market in the upcoming six years.

Europe Cybersecurity Market is projected to gain momentum in the forthcoming years backed by the rising growth of online start-up businesses across the region such as online grocery sales and online coaching whereby the outbreak of the global COVID-19 has been playing a crucial role in scaling up the growth of online businesses as the entire population maintains social distancing while performing their essential activities at times of coronavirus pandemic and this is increasing online activities. As a result, the increase in the online business landscapes is not only into profit deals but their sales platform is also exposed to malfunctioning and as a result, require cybersecurity solutions to ensure safe transaction during online grocery sales and is expected to propel the significant demand for cybersecurity solutions in the coming years in the European countries and would benefit the massive growth of the entire Europe Cybersecurity Market in the forthcoming years.

Market Analysis by Offerings

Based on offerings, the data privacy segment is expected to register a surge during the forecast period. Compliance with government regulations and directives of the European Union Agency for Cybersecurity are key drivers of the growth of the identification and access management solutions. Financial, healthcare and IT are the leading revenue-generating verticals in the cybersecurity market in Europe.

Market Analysis by Country

On the basis of country, the United Kingdom is expected to gain a significant share owing to the adoption of the National Cyber Security Strategy.

Market Analysis by Verticals

Based on verticals, the Retail segment is anticipated to witness a significant share owing to the growing usage of software and digitization. 

Key Highlights of the Report:

• Europe Cyber Security Market Overview
• Europe Cyber Security Market Outlook
• Europe Cyber Security Market Forecast
• Historical Data of Europe Cyber Security Market Revenues, for the Period 2016-2019
• Europe Cyber Security Market Size and Europe Cyber Security Market Forecast of Revenues, Until 2026
• Historical Data of Europe Cyber Security Market Revenues, By Components, for the Period 2016-2019
• Market Size & Forecast of Europe Cyber Security Market Revenues, By Components, Until 2026
• Historical Data of Europe Cyber Security Market Revenues, By Offerings, for the Period 2016-2019
• Market Size & Forecast of Europe Cyber Security Market Revenues, By Offerings, Until 2026
• Historical Data of Europe Cyber Security Market Revenues, By Deployments, for the Period 2016-2019
• Market Size & Forecast of Europe Cyber Security Market Revenues, By Deployments, Until 2026
• Historical Data of Europe Cyber Security Market Revenues, By Verticals, for the Period 2016-2019
• Market Size & Forecast of Europe Cyber Security Market Revenues, By Verticals, Until 2026
• Historical Data of Germany Cyber Security Market Revenues, for the Period 2016-2019
• Market Size & Forecast of Germany Cyber Security Market Revenues, Until 2026
• Historical Data of Italy Cyber Security Market Revenues, for the Period 2016-2019
• Market Size & Forecast of Italy Cyber Security Market Revenues, Until 2026
• Historical Data of France Cyber Security Market Revenues, for the Period 2016-2019
• Market Size & Forecast of France Cyber Security Market Revenues, Until 2026
• Historical Data of United Kingdom Cyber Security Market Revenues, for the Period 2016-2019
• Market Size & Forecast of the United Kingdom Cyber Security Market Revenues, Until 2026
• Historical Data of Rest of Europe Cyber Security Market Revenues, for the Period 2016-2019
• Market Size & Forecast of Rest of Europe Cyber Security Market Revenues, Until 2026
• Market Drivers and Restraints
• Europe Cyber Security Market Trends and Industry Life Cycle
• Market Opportunity Assessment, By Operating Parameters
• Europe Cyber Security Market Share, By Players
• Europe Cyber Security Market Share, By Regions
• Europe Cyber Security Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Europe Cyber Security Market report provides a detailed analysis of the following market segments:

By Components

• Solutions
• Services

By Offerings

• Identity and Access Management
• Infrastructure Security
• Governance, Risk, and Compliance
• Unified Vulnerability Management Service
• Data Security and Privacy Service
• Other

By Deployments

• Cloud
• On-Premises

By Verticals

• Aerospace and Defense
• BFSI (Banking Finance Services and Insurance)
• Retail
• Healthcare
• IT and Telecom
• Energy and Utilities
• Manufacturing
• Commercial Offices
• Others

By Countries

• Germany
• Italy
• France
• United Kingdom
• Rest of Europe

Other Key Reports Available:

• Germany Cyber Security Market Report
• Italy Cyber Security Market Report
• France Cyber Security Market Report
• United Kingdom Cyber Security Market Report

Europe Cyber Security Market: FAQs