Latest News- Cyber Security Market in Europe: Cloud is expected to lead the Deployment segment during 2025-2029

The Cyber Security Market in Europe is being driven by Increasing sophistication and volume of cyber threats

The Cyber Security Market in Europe is expected to grow at a CAGR of 10% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 33892.5 million. The European cyber security market is witnessing a significant shift towards consolidating security tools into integrated platforms, with Extended Detection and Response (XDR) and Secure Access Service Edge (SASE) being the most prominent solutions. For years, organizations in Europe have grappled with a fragmented and intricate security infrastructure, characterized by numerous disconnected point solutions from diverse vendors. This tool proliferation has resulted in substantial operational inefficiencies, including burdensome alert fatigue for security personnel, critical blind spots between security domains, and exorbitant total cost of ownership. The market is now undergoing a transformative phase, moving away from the traditional best-of-breed, siloed approach towards a more unified and platform-centric model. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • Cloud
  • On premises
• Component
  • Solutions
  • Services
• Sector
  • Large enterprises
  • SMEs
• Type
  • Network
  • Cloud
  • End-point and IOT
  • Application
• End-user
  • Government
  • BFSI
  • ICT
  • Manufacturing
  • Others
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Italy

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing sophistication and volume of cyber threats
• Stringent and expanding regulatory framework
• Accelerated digital transformation and adoption of advanced technologies

However, the market also witnesses some limitations, which are as follows:

• Critical cyber security skills and talent shortage
• Overwhelming complexity and fragmentation of security environments
• High costs and budgetary constraints, especially for SMEs

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Market Scope in Cyber Security Market in Europe Research Report

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Research Analysis Overview

The European Cyber Security Market encompasses solutions for Security Orchestration Automation, Privileged Access Management, Compliance and Regulations, Risk Assessment Methodologies, Incident Management Processes, and Security Architecture Design. Key offerings include Data Governance Frameworks, Vulnerability Management Programs, Threat Modeling Techniques, Endpoint Security Solutions, Network Traffic Analysis, Log Management Systems, Security Analytics Platforms, Intrusion Prevention Systems, Authentication Protocols, Authorization Policies, Encryption Algorithms, Data Masking Techniques, Secure Remote Access, Mobile Device Management, Email Security Gateways, Web Application Firewalls, Distributed Denial of Service Protection, Phishing Email Detection, Social Media Security, Password Management Systems, and Business Continuity Planning.

Market Research Overview

The European cyber security market encompasses businesses specializing in intrusion detection systems, vulnerability assessments, and threat intelligence platforms. This sector falls under the larger global IT services market, which includes IT consulting and system integration, application services, electronic data processing, business process outsourcing, infrastructure services, and Internet services. According to Technavio, the global IT consulting and other services market, which includes IT consulting and information management providers, will experience growth due to escalating government investments in advanced IT infrastructure. This demand stems from a shortage of experts in contemporary IT skills within public sector organizations.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: media@technavio.com
Website: www.technavio.com/