In Europe, the market of cyber security is in its increasing stage in the recent trend. The market present an effective competitive scenario where the international players which control the majority of the stake are continuously trying to grow their prevailing market share in the economy. The entrance of the domestic players and start-ups in the past 5 years has lead to a move in the import oriented market to rely heavily on the In-house items and services. The market of cyber security is also very accessible to the newness, advancements and the next generation solutions. Augmented usage of the smart phones and internet are the foremost growth drivers of this market during the review period.
The Network security is the most broadly utilized technology in the market and controls a foremost share of the market. According to the research it is predicted that in the Europe cyber security market the players are functioning more positively for leading the fastest market growth and registering the high value of market share during the short span of time more significantly and proficiently while increasing the awareness among the several unions and regulatory authorities, investing the handsome amount of money, increasing the applications of the cyber security equipment and decreasing the price of the equipment includes Darktrace, Cisco, Check Point Software Technologies Ltd, Symantec Corporation, Trend Micro, Avast, Kaspersky, Fortinet, CMC Corporation, BAE Systems, CyRadar, IBM Corporation, Trend Micro, Oracle, Wanders, Sophos, Sentry Bay, Fire Eye and several others.
However, based on the end user, the Banking and finance segment are the foremost users of cyber security in this segment, as the information warehoused with the banking and finance segment is exceedingly sensitive and demands to be kept protected with the contemporary solutions. Healthcare, IT and Telecom and the Energy segment have been observing for more cultured solutions in the market owing to the shared network systems across Europe. As IoTendures to increase across Europe, the government has also begun to aim on cyber security.
Not only has this, The future of European Cyber Security market aspects auspicious as certain foremost aspects like augment in the Mobile as well as Internet utilization and new advancement in end users and the several laws and directives which are established provides good growth choices. The Cyber security market is predicted to increase at a single digit 5 year CAGR by an effective improvement in the cyber threat landscape owing to the emerging intimidations and sophisticated rewards for the attackers.
Europe is disposed to the cyber attacks and the government now focuses to safeguard the citizens’ data. It has approved several laws and legislations to develop the cyber security and decrease the cyber terrorizations like GDPR Regulations and the NIS Directive which focuses at standardizing the market and delivering the cyber security to everyone. There is also a “Buy Europe” temperament which is fostering the growth in some of the incoming startups from regions like Poland, Netherlands & Sweden. Some startups are also photocopying the products advanced in US or other regions and are putting them into a local business framework. Therefore, in the coming years, it is predicted that the market of cyber security in Europe will increase more significantly over the near future.
For more information on the research report, refer to below link:
Middle East Cyber Security Market Outlook to 2022 – By Solutions (Firewall, Intrusion Detection System, Antivirus, Identity and Access Management, Encryption, Data Loss Prevention, Unidentified Threat Management, Disaster Recovery) and By Region
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Ankur Gupta, Head Marketing & Communications