Cybersecurity - Switzerland

Switzerland

In 2024, the revenue in the Cybersecurity market is projected to reach a staggering US$0.91bn.
It is worth noting that in Switzerland, being a significant player in this market segment, is expected to contribute to this impressive figure.
Among the various segments in the market, Cyber Solutions emerges as the dominant force, with a projected market volume of US$0.51bn in 2024.
This highlights the importance of security services in safeguarding valuable assets and information, and in Switzerland is no exception to this trend.
Looking ahead, the revenue in the Cybersecurity market is anticipated to exhibit a commendable annual growth rate (CAGR 2024-2029) of 8.05%.
This growth trajectory will ultimately result in a market volume of US$1.34bn by 2029.
in Switzerland, with its strong focus on cybersecurity, is poised to benefit from this upward trend.
When it comes to analyzing the spending patterns, the average Spend per Employee in the Cybersecurity market is projected to reach US$178.50 in 2024.
This figure serves as a benchmark for evaluating the investment made by companies in securing their digital infrastructure.
in Switzerland, with its robust cybersecurity measures, is expected to align itself with this global standard.
In terms of global revenue generation, it is interesting to note that United States is set to lead the way, with a projected revenue of US$81,370.0m in 2024.
This showcases United States' dominance in the cybersecurity market, but in Switzerland, with its advanced technological capabilities and emphasis on data protection, remains a formidable contender in this ever-evolving landscape.
Switzerland's robust cybersecurity infrastructure and strict data protection laws make it an attractive destination for businesses seeking secure digital solutions.

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

Market

Region

Region comparison

Currency

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.

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.