Cybersecurity - Luxembourg

  • Luxembourg
  • The revenue in the Cybersecurity market is forecasted to reach US$149.50m in 2025 in Luxembourg.
  • Cyber Solutions dominates this market with a projected market volume of US$78.22m in 2025.
  • The revenue is anticipated to demonstrate an annual growth rate (CAGR 2025-2029) of 7.44%, resulting in a market volume of US$199.20m by 2029.
  • The average Spend per Employee in the Cybersecurity market is projected to reach US$413.00 in 2025.
  • In global comparison, United States is expected to generate the highest revenue with US$88,250.0m in 2025.
  • Luxembourg's strong focus on data protection and privacy regulations has positioned it as a leading hub for cybersecurity innovation.

Key regions: United States, Canada, Brazil, India, Belgium

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Currency

Revenue

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Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Jun 2024

Source: Statista Market Insights

in billion USD (US$)

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Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

Most recent update: Mar 2024

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Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Jun 2024

Source: Statista Market Insights

Technology

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This report presents a comprehensive analysis and additional information on the Cybersecurity market, in a PDF format.
Cybersecurity: market data & analysis - Background Cybersecurity: market data & analysis - Cover

Key Players

in percent

2023
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Most recent update: Dec 2024

Source: Statista Market Insights

Analyst Opinion

Cybersecurity is a topic practically every company must tackle in order to ensure and enhance the success of the digital transformation of their operational activities (e.g., automated processes, cloud-based tools, or software support). Driven by the increasing awareness of data risks and threats, the global Cybersecurity market has witnessed robust growth over the last few years with revenue increasing from US$83.32 billion in 2016 to approximately US$166 billion in 2023.

Furthermore, the adoption of cybersecurity is expected to grow with the increasing internet penetration among developing and developed countries. Whilst it was common to dismiss cybersecurity as a task for the IT department, it is now increasingly becoming the dominant part of top-level strategic planning.

The COVID-19 crisis led to many organizations facing more cyberattacks due to the security vulnerability of remote work as well as the shift to virtualized IT environments, such as the infrastructure, data, and network of cloud computing. The market is expected to continue showing strong growth, with North America as the dominant region in this market. Cloud Security is the fastest-developing market.

Global Comparison

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Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Jun 2024

Sources: Statista Market Insights , Financial Statements of Key Players , National Cyber Security Organizations

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.

Key Market Indicators

The following Key Market Indicators give an overview of the social and economic outlook of the selected region and provide additional insights into relevant market-specific developments. These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models.

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