An analysis by Triton Market Research has concluded that the European cyber security market is expected to grow and expand at a CAGR of 10.23% during the forthcoming period 2019-2028.
The countries evaluated in the Europe cyber security market are:
• Italy
• The United Kingdom
• Germany
• Russia
• France
• Spain
• Rest of Europe
In the United Kingdom, billions of people are relying on the services provided by digital networks. As the dependence on the cyberspace grows in the country, there is a rising need for its security, which is demanding the adoption of the cyber security market in the UK. This is leading to the growth of the UK cyber security market in the forecast period. WannaCry is a malware that adversely affected the world, and the UK was one of the most affected countries. The power grid poses a severe vulnerability to cyberattacks owing to weak cyber security provided by the government. These factors are also increasing the range for cyber attackers, thereby creating more opportunities for the industry players in the country.
The booming IoT devices applications are also leading to higher vulnerability and exposure to cyber attacks in the UK. Besides, the government invested GBP 1.9 billion towards cyber security within the National Cyber Security Strategy 2016-2021. These increasing initiatives to tackle the rising cyberattacks are expected to boost the growth of the studied market in the country.
In May 2017, around two-thirds of German manufacturers faced cyber attacks, which cost around $50 billion. Therefore, the government and other private organizations are increasingly upgrading their IT infrastructure with strong cyber security measures, thereby pushing the growth of the regional market.
FireEye Inc is a company providing cyber security solutions to organizations in order to prevent and respond to cyber attacks. The company offers threat detection & prevention solutions, including email security solutions, network security products, end-point security solutions and content security products. It serves through distributors and resellers, in different regions, including Europe.
Few companies in the cyber security market are Trend Micro Incorporated, Dell Technologies Inc, Imperva, Cyber Ark Software Ltd, FireEye Inc, AVG Technologies (Acquired By Avast Software sro), Cisco Systems Inc, International Business Machines Corporation, Rapid7, Check Point Software Technologies Ltd, Intel Security (Intel Corporation), Fortinet Inc, Proofpoint Inc, Palo Alto Networks Inc and Symantec Corporation (Broadcom Inc).