The global market of the cyber security is recently in its augmenting stage. The market presents a robust competitive landscape where the international corporates which control the mainstream of the stake are constantly trying to grow their prevailing market share in the market. In addition, the inflow of the Domestic corporates and Start-ups in the recent past years has positively lead to a movement in the import sloping market to rely profoundly on the In-House products and services. The market is also very approachable to inventiveness, innovations and next generation solutions. Augmented utilization of the mobile phones and the internet are the foremost growth drivers of this market. Not only has this, according to the Cyber Security Market Growth Forecast network security is the most commonly utilized technology in the market and controls a foremost share of market.
Whereas, the growing consciousness amongst the European Union and Government of the dissimilar regions in the EU beside with the SME’s and mid-caps has supported the industry to attain the momentum. By the Issues and Challenges in Cyber Security Market, mainstream of the corporates across the Europe are SME’s which are going through the digital transformation suggested by the funds from the EU. The cyber security market is increasing parallel to the digitization of the corporates in the whole Europe.
On the basis of Antivirus and Antimalware Market, in the Vietnam, by the type of the solution the market segmented into Firewall & UTM, Intrusion Detection System, Antivirus, Identity and Access Management, Encryption, Data Loss Prevention, Disaster Recovery and IoT Devices. However, The Firewall & Unified Threat management (UTM) apprehended the mainstream of the market share in terms of revenue during the recent past years. UTM is the maximum communal security solutions and comprises Firewall, Antivirus, Intrusion Detection system, Email Security, Web Content security and several others. The remaining market share was apprehended by Intrusion detection system, Antivirus, Identity and access management and numerous other solutions during the recent past years.
Nonetheless, by the security, in the developed regions, the network security is required by the both the business enterprises and the home users. It attained the majority market share in the terms of revenue in the developed region’s market during the recent past years. The network security the most required security in the developed region such as Vietnam as it safeguards the network and data and involves the solutions as Firewall, Antivirus and numerous others.
During the coming years, the market of the cyber security is anticipated to increase in the terms of revenue to potential increase in the cyber crimes in the region. Apart from the dependable growth in the company market, the Security services and Solutions sales across the globe was witnessed to be fostered by the growth in the Sophisticated Cyber Threats, Digital advancements of the SMEs and few other aspects. The trend is predicted to stay the same in the coming years and with the generation of the fresh cyber security law by the legal authorities of the respective region, investment in the cyber security solutions and services is guaranteed to grow.
For more information on the research report, refer to below link:
Europe Cyber Security Industry Outlook to 2023 – By Solutions (Firewall, Intrusion detection system, Antivirus, Identity and Access Management, Encryption, Data Loss Prevention, UTM, Disaster Recovery and Others (IoT Devices), By Industry Verticals (Banking & Finance, Government, IT & Telecom, Retail, Healthcare, Energy & Power, Private User and Others), By Security Deployed (Network Security, Application Security, End-Point Security, Mobile Security, Content Security and Cloud Security)
Ankur Gupta, Head Marketing & Communications