Market Insights Technology Cybersecurity Cyber Solutions

Network Security - EU-27

EU-27

The Network Security market in the EU-27 is expected to generate a revenue of US$3.13bn by 2024.
This projection indicates a significant growth potential for the market segment.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 9.33% during the period of 2024-2029.
As a result, the market volume is forecasted to reach US$4.89bn by 2029.
In terms of average Spend per Employee, the Network Security market is estimated to reach US$13.96 in 2024.
This metric highlights the level of investment and expenditure within the market segment, demonstrating its importance and potential for growth.
When considering global comparisons, it is noteworthy that United States is projected to generate the highest revenue in the Network Security market, with an expected value of US$10,830.0m in 2024.
This signifies the dominance of the United States in this market segment, reflecting its strong presence and market share.
In Germany, the network security market is thriving due to strict data protection regulations and the increasing number of cyber attacks.

Key regions: United States, Germany, Saudi Arabia, Brazil, Chile

Market

Region

Region comparison

Currency

Methodology

Data coverage:

Data encompasses B2C, B2B and B2G enterprises. Figures are based on security spending excluding VAT and the number of cyberattacks.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial statements of the market-leading companies and industry associations, national statistical offices, and specific countries’ security organizations (e.g., German Cyber Security Council, Canadian Centre for Cyber Security). Furthermore, we use relevant key market indicators and data from country-specific associations, such as GDP and internet penetration. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. Possible techniques are, for example, exponential trend smoothing and the autoregressive integrated moving average (ARIMA) forecasting algorithm. The main drivers are GDP, internet users, level of digitization, and consumer attitude towards data and IT security.

Additional notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.