The major driving factor for the cyber security market in Europe is increasing the strictness of the EU General Data Protection Regulation (GDPR) regulations and growing cyber threats over the European Countries. Demand for integrated cyber solutions is another key factor which would drive the cyber security market in the forecast period. Furthermore, the rising threats of cyber-crimes all over the world, especially in Europe, have given new emerging domains which can prevent cyber-attacks, such like are cloud security, rapid adoption of cloud computing, data center, and wireless communication which can boost the cyber security market in the forecast period. Growth of Cyber Security is led by to prevent the reaches and high profile data theft, owing to the absence of a robust defense system, several companies in the Europe, have fallen victim to intrusions, which have caused heavy business losses and theft of personal data which can be further related to national security of any country.
As per recently published report by BlueWeave Consulting, The Europe Cyber Security market is expected to grow with a significant growth rate over the forecast period from 2018 to 2025.
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Europe Cyber Security Market: By Security Type
Enterprises Security: It is leading security type in Europe cyber security market. Enterprise security mainly activities involve protecting enterprises large and small from cyber-attacks through which they can monitor business units, personnel, executives and staff should work together to protect an organization’s digital assets, ensure data loss prevention and protect the organization’s public reputation. Furthermore, an increase in number of cyber-attacks on small and medium organization is anticipated to boost demand for enterprise security solutions. Furthermore, increasing number of government regulations worldwide regarding data security & privacy. Hence mentioned factors will grow the Europe cyber security market in forecast period.
Network security: Network security includes security of multiple layers of defenses in the network and at the network. In era of digitalization, whole world is connected through network by which they delivering the services demanded by employees and customers and it is responsibility to protect access of networks is gained by authorized users, whereas, malicious actors are looking for trapping it. Hence mentioned drivers will grow the cyber security market of Europe in forecast period.
Application security: Application security involves whole security of apps which are regularly using by common people in which it is notable that since no app is created perfectly and in future it is possible for any application to comprise of vulnerabilities, or holes, that are used by attackers to enter your network. Hence, mentioned factors will lead growth of cyber security of Europe.
Europe Cyber Security market: By Solutions Type
Unified threat management (UTM): UTM is a collection of several network security tools like antivirus, anti-spyware, network firewall, intrusion detection, spam, and content filters etc., which have major key factors in cyber security are ease-of-deployment, ease-of-use, and its ability to integrate or bring together a host of critical security solutions” which can easily protect enterprises against different kinds of malware attacks and zero-day threats. Hence mentioned characteristics will grow the cyber security market in forecast period.
Identity and access management (IAM): Internet of Things (IoT), and mobility and remote workforce is forcing organizations to implement IAM solutions, which are also further keys driver for growth of cyber security markets in forecast period due to mentioned characteristics, it will be leading marketer in cyber security market of Europe cyber security.
Europe Cyber Security Market: By Deployment Type
Cloud: Organizations are transforming business over cloud aimed at providing access to information for in-house and cross-border operation to its employees. The adoption of this public cloud is accelerating at pace which will be vulnerable with time and this will grow the cyber security market over forecast period.
On-premises: On-premise solutions allow hands-on ownership and control of security monitoring which offers flexible and adaptive security program. These characteristics of on-premises will increase the cyber security market over the forecast period.
Europe Cyber Security market: By Industry Vertical Type
BFSI: It will be leading industry in Europe for utilizing cyber security. BFSI is expected to emerge as a predominant sector as cyber-attacks in the banking sector has soared. The BFSI is among the backbone of economies, and its security is a matter of high concern and these major factors will drive the market cyber security market in forecast period.
IT & Telecom: It will fastest growing market in Europe cyber security market in forecast period. The IT & telecom segment will also witness high market share of over forecast period. Major driving forces for this are data breach of organizations, research and development activities, and financial.
Public sector: The growing threats and breaches, governments across all the geographic region are increasing its spending aimed to provide high cyber security infrastructure and its cyber security market will increase in forecast period.
Europe Cyber Security Market: By Country
United Kingdom: U.K. will be leading region of cyber security market. Due to presence of major cyber security providing companies, market of UK cyber security will grow in Europe region.
Netherlands: Netherlands will be second leading marketer of cyber security in forecast period. Due to presence of world’s 500 fortune companies, it will be fastest growing market of cyber security market in forecast period by which it can attract bigger and smaller enterprises for betterment of operational works.
Europe Cyber Security Market Analysis: Competitive Dynamics
Companies like Mimecast, KnowBe4, DFlabs, buguroo, secure-NOK, Cisco Systems Inc., Intel Corporation, Symantec Corporation, BAE Systems PLC, Fortinet Inc., Palo Alto Networks, Inc., Fire Eye Inc., Barracuda Networks Inc., International Business Machine (IBM) Corporation etc. are keys player in Europe Cyber Security market.
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