Market Overview

The Cybersecurity Market in Europe 2018-2023: A +$47 Billion Market Opportunity - ResearchAndMarkets.com

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The "Europe
Cybersecurity Market (2018-2023)"
report has been added to ResearchAndMarkets.com's
offering.

Europe cybersecurity market is anticipated to grow at an overall
compound annual growth rate (CAGR) of 11.3% and will be worth USD 47.17
billion by 2023.

With increased internet penetration, cyberattacks are becoming more
powerful, allowing hackers greater access to new technology. One such
example is the production a malware called 'Flame'.

Across the different geographical regions, Europe held the second
largest market share in the global cybersecurity market in 2016,
generating 28.2% of the global revenue. One of the reasons is that the
European Commission has taken up various initiatives in the field of
cybersecurity in order to make the European Union a strong player in
combatting cyberattacks, to increase the region's cybersecurity
capabilities and cooperation.

By countries, the Europe cybersecurity market is divided into EU5 and
the Rest of EU5. EU5 is expected to hold more than half of the market.
This is mainly backed by countries likes United Kingdom, Germany, and
France that are making significant cybersecurity investments. It is also
reported that cyberattacks in EU5 countries have expanded by five times
from 2013 to 2017. To overcome the situation, countries need more robust
and effective cyber solutions, and need to create effective regulations
regarding cyberattacks.

By solution, Europe cybersecurity solution is classified into identity
and access management, encryption, governance regulation and compliance,
unified threat management, and security information and event
management. Countries in EU5 like the U.K. and Germany dominate the UTM
market in Europe, followed by Italy, which witnessed the highest growth
rate. This is because organizations find deploying UTM easier and more
effective.

Key Growth Factors

  • The prime factor that is driving the European cyber security market
    are government regulations, increase in cyberattacks, and the
    popularity of Bring Your Own Device (BYOD).
  • The European Union's General Data Protection Regulation are designed
    to ensure privacy that includes encrypting personal data, governing
    over the management and use and protection of data.

Threats

  • The lack of information, understanding, and time are the key factors
    that hinder organizations from adopting cybersecurity.

Key Players

  • BAE System
  • Cisco System
  • Fortinet
  • Northrop Grumman
  • Raytheon
  • Symantec

Key Topics Covered

Chapter 1: Executive Summary

Chapter 2: Europe Cybersecurity Market

Chapter 3: Europe Cybersecurity Market - by Industries

Chapter 4: Europe Cybersecurity Market - by Solution

Chapter 5: Europe Cybersecurity Market - by Countries

Chapter 6: Company Profiles

Chapter 7: Conclusion

For more information about this report visit https://www.researchandmarkets.com/research/k377kh/the_cybersecurity?w=4

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