March 02, 2020
According to the research report titled ‘Europe Cybersecurity Market Size By Industry, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, By Product Type Organization, 2019 - 2025’ available with Market Study Report LLC, Europe cybersecurity market is expected to cross USD 65 billion by the year 2025.
According to the report, Europe cybersecurity market is likely to register immense growth owing to the strong initiatives introduced by the government to encourage data safety, along with large investments towards the incorporation of cybersecurity solutions. Rising incidences of malicious cyber-attacks and data breaches on crucial business infrastructure have compelled business enterprises to collaborate with government agencies to improve their cybersecurity, thereby augmenting the market outlook.
The report cites that network security segment of Europe cybersecurity industry is anticipated to expand with a CAGR of 15% over the forecast period. Enterprises leverage these security solutions to protect data integrity and usability by shielding crucial business networks from intrusions and virus attacks. Introduction of next-gen devices, complex networking architectures, and applications has complicated the network management for enterprises. This situation has encouraged the adoption of network security solutions among businesses for proficiently managing modern complex networks. The transformations in network have compelled businesses to integrate network monitoring tools, which will bolster Europe cybersecurity market growth.
As per the report, Europe cybersecurity market from large enterprises segment is anticipated to record more than 10% CAGR over the forecast timeframe. The growth can be attributed to the fact that large enterprises are more susceptible to cyber-attacks on account of the involvement of massive financial assets. Malicious attacks can impede the market image of enterprises and raise investor dissatisfaction, hence large businesses are proactively adopting cybersecurity solutions.
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The report states that Europe cybersecurity industry growth from the banking sector is likely to register a 15% CAGR over 2019-2025. The growth can be affixed to the introduction of strict government regulations for banking organizations. Rising consumer preference for digital banking platforms has supported the adoption of cybersecurity solutions among banks to reduce losses and avert financial abuse.
The major companies operating in Europe cybersecurity market are Sophos Group plc, Check Point Software, BAE Systems, Symantec Corporation, Cisco Systems, Inc., CyberArk Software Ltd., Proofpoint, Inc., F-Secure Corporation, McAfee LLC, Microsoft Corporation, F5networks, Inc., FireEye, Inc., Hewlett-Packard Ltd., Fortinet, Inc., IBM Corporation, Oracle Corporation, Intel Corporation, Palo Alto Networks, Inc., Splunk, Inc., Trend Micro, Inc., Rapid7, and RSA Security.
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