The European cybersecurity market is determined to exceed $65 billion by 2025, according to Graphical Research. This growth is attributed to strong government initiatives to promote data safety and hefty investments in cybersecurity solutions.
The increasing cases of data breaches and cyber attacks on critical business infrastructure have driven several business enterprises toward partnering with government agencies for enhanced cybersecurity. For instance, in July 2016, the EU Commission announced a Public-Private partnership program on cybersecurity with billion investments by 2020.
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The private sector is estimated to contribute $1,498 million, with the remaining $502 million contributed by various governments across the region. This is expected to spur the growth of cybersecurity solutions in the region.
The network security segment is expected to register an accelerated growth over the forecast period with a CAGR of over 15%. These solutions protect data integrity and usability of critical business networks, safeguarding enterprises against intrusions and malware attacks on their IT networks.
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