Europe Cyber Security Market Size, Growth Forecast | 2031

Segments - Europe Cyber Security Market by Product Type (Solutions, Services), Deployment (Cloud, On-Premise), End-user Industry (Aerospace and Defense, Banking, Financial Services & Insurance, Healthcare, Manufacturing, Retail, Public Utility, IT and Telecommunication) and Country (United Kingdom, German, France, Italy and Rest of Europe) -Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031.

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

The Europe cyber security market size was valued USD 34.17 Billion in 2022 and is anticipated to reach USD 243.80 Billion by 2031, expanding at a CAGR of 24.4% during the forecast period, 2023 – 2031. The growth of the market is attributed to increasing penetration of the internet. Moreover, the growing wireless network catering to mobile devices has enhanced data vulnerability.

Cyber threats are internet-based efforts to damage or disrupt information systems and hack vital information using spyware, malware, and phishing. Cyber security solutions help an organization to detect report, monitor and counter cyber threats to maintain data confidentiality.

Rising technological advancements in data transfers, cloud services are becoming more common. The public cloud has been emerging. This is leading to faster transfer of phishing bots, emails, and ransomware, demonstrating the vulnerabilities brought in by them .Furthermore, the expanding penetration of technology facilitators in the region, coupled with rising acceptance of virtual shopping, has propelled the e-commerce ecosystem

The Covid-19 pandemic had favourable impact on the Europe cyber security market. The UK's National Cyber Security Centre (NCSC) has declared a public alert and fresh guidance as cybercriminals are targeting the potential of COVID-19 to gain sensitive information from users spending significant time on the internet owing to the lock-down situation; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.

Cyber Security Market Trends, Drivers, Restraints, and Opportunities

The growing need for security solutions in banking service and private financial sectors safeguarding cyber-attacks and data confidentiality is estimated to drive the market growth during the forecast period.
The rising cyber threats, increasing government regulations on data privacy, a increasing number of data centres are the key factors growing the demand for cyber security and directly impacting the market expansion
Lack of awareness and availability of pirated cyber security solutions are estimated to impede the market expansion in coming years.
R&D investment and technological advancement in Europe cyber security market are expected to offer lucrative opportunities for the market players.

Scope of Cyber Security Market Report

The report on the Europe cyber security market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Cyber Security Market - Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Product Type (Solutions, Services), Deployment (Cloud, On-Premise), End-user Industry (Aerospace and Defense, Banking, Financial Services & Insurance, Healthcare, Manufacturing, Retail, Public Utility, IT and Telecommunication)
Country	United Kingdom, German, France, Italy and Rest of Europe
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	IBM Corporation, Cisco Systems, Inc., Dell Inc., Qualys Inc. and Check Point Software Technologies Ltd.

Europe Cyber Security Market Segment insights

Solution segment is anticipated to expand at a substantial pace

Based on product type, the Europe cyber security market is segregated into solutions, services. The solutions segment is projected to account for a key share of the market during the forecast period due to increasing expenditure by the government on security solutions.

Europe Cyber Security Market Product Type Segmentation

The cloud segment is projected to constitute a large market share

Based on deployment, the Europe cyber security market is segregated into cloud and on-Premise. The cloud segment is expected to account for a key share of the market during the forecast period owing to the associated benefits such as flexibility, scalability, low operational costs and auto-update feature among others.

Retail segment is expected to register a substantial CAGR

Based on end-user industry, the Europe cyber security market is divided into aerospace and defense, banking, financial services & insurance, healthcare, manufacturing, retail, public utility, IT and telecommunication. The retail segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to growth of hypermarkets and supermarkets and e-commerce and omni-channel business models.

The retail industry's growth is projected to upsurge the demand for cyber security, as it is investing heavily in customer satisfaction and retention. Furthermore, digitization and use of software and improving internet connectivity are projected to drive the demand for cyber security

Europe Cyber Security Market End-User Industry Segmentation

France is expected to dominate the market

In terms of country, the market is broadly classified as United Kingdom, German, France, Italy and Rest of Europe. France is anticipated to expand at a robust CAGR during the forecast period. Rising investment on cyber security and its cyber security strategy targeting to accompany the French society's digital transformation initiatives and address the new challenges of digital technology is anticipated to boost the market growth over the coming years.

Segments

The Europe cyber security market has been segmented on the basis of:-

Product Type

Solutions
Services

Deployment

Cloud
On-Premise

End-user Industry

Aerospace and Defense
Banking
Financial Services & Insurance
Healthcare
Manufacturing
Retail
Public Utility
IT
Telecommunication

Regions

United Kingdom
German
France
Italy
Rest of Europe

Key Companies

IBM Corporation
Cisco Systems, Inc.
Dell Inc.
Qualys Inc.
Check Point Software Technologies Ltd.

Competitive Landscape

Key players competing in the Europe cyber security market include IBM Corporation, Cisco Systems, Inc., Dell Inc., Qualys Inc. and Check Point Software Technologies Ltd. Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instances,

In February 2020, Mastercard started developing a Cyber Resilience Centre designed to foster cyber security partnership between the private and public sectors. Situated in Belgium, alongside Mastercard's European headquarters, the centre is anticipated to be the first of Europe's kind.

In July 2019, Orange acquired SecureLink, an independent cyber security player in Europe. With SecureLink's strong presence in Europe, Orange is continuously strengthening its ability to support customers across their regional footprints, while developing a unique scale in the industry.

Europe Cyber Security Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Cyber Security Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Cyber Security Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Cyber Security Market - Supply Chain
  4.5. Global Cyber Security Market Forecast
     4.5.1. Cyber Security Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Cyber Security Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Cyber Security Market Absolute $ Opportunity
5. Global Cyber Security Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Cyber Security Market Size and Volume Forecast by End Users
     5.3.1. Aerospace and Defense Banking Financial Services & Insurance Healthcare
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Cyber Security Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Cyber Security Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Cyber Security Demand Share Forecast, 2019-2026
7. North America Cyber Security Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Cyber Security Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Cyber Security Market Size and Volume Forecast by End Users
     7.4.1. Aerospace and Defense Banking Financial Services & Insurance Healthcare
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Cyber Security Demand Share Forecast, 2019-2026
8. Latin America Cyber Security Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Cyber Security Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Cyber Security Market Size and Volume Forecast by End Users
     8.4.1. Aerospace and Defense Banking Financial Services & Insurance Healthcare
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Cyber Security Demand Share Forecast, 2019-2026
9. Europe Cyber Security Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Cyber Security Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Cyber Security Market Size and Volume Forecast by End Users
     9.4.1. Aerospace and Defense Banking Financial Services & Insurance Healthcare
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Cyber Security Demand Share Forecast, 2019-2026
10. Asia Pacific Cyber Security Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Cyber Security Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Cyber Security Market Size and Volume Forecast by End Users
     10.4.1. Aerospace and Defense Banking Financial Services & Insurance Healthcare
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Cyber Security Demand Share Forecast, 2019-2026
11. Middle East & Africa Cyber Security Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Cyber Security Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Cyber Security Market Size and Volume Forecast by End Users
     11.4.1. Aerospace and Defense Banking Financial Services & Insurance Healthcare
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Cyber Security Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Cyber Security Market: Market Share Analysis
  12.2. Cyber Security Distributors and Customers
  12.3. Cyber Security Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. IBM Corporation Cisco Systems, Inc. Dell Inc. Qualys Inc. Check Point Software Technologies Ltd.