He Cybersecurity market in Europe will be twice as valuable in 2034 as in 2025according to a report by the Imarc Group. The text of this report indicates that this market will go from $81.81 billion in 2025 to $165.73 billion in 2034, with a projected compound annual growth rate of 8.2% until then.
This increase is due, on the one hand, to the growth of cyber threats, and on the other, to greater rigidity in protection regulations in the region, such as NIS2, which will force companies to increase their spending on cybersecurity. Additionally, the report links the growth of this market to the activity recorded by ransomware, as well as AI-powered phishing campaigns, which already account for more than 80% of social engineering attacks.
These types of attacks are leading companies of all types to increasingly expand their investment in different detection and response solutions to attacks and threats, but also in other tools focused on resilience.
Services represent 54.08% of the market, which shows the great dependence on managed security providers by companies, as well as on expert consulting services in the sector. Many companies are turning to external partners to evaluate their level of compliance or Zero Trust architecture planning, but also to support incident response.
Regarding the type of implementation, those carried out locally account for 58.12% of the market, supported by data sovereignty requirements, as well as regulatory compliance priorities. On the other hand, large companies represent 70.1% of the total market share, due to the fact that boards of directors are increasing the supervision of security programs, due to the growing complexity of threats and the direct regulatory responsibility that the top management of companies has.
By sector, the one that leads investment in cybersecurity is the banking, financial services and insurance sector, with a market share of 24.15%, due not only to the large number of attack attempts they suffer, but also to the strict supervision to which they are subject.
Regarding growing trends in cybersecurity, the report identifies as such the greater use of AI in threat detection, the expansion of hybrid cloud security architectures and the increase in merger and acquisition activities between companies.
According to the report, in addition, the cybersecurity sector will continue to have to face in the coming years a shortage of professionals with experience and skills necessary for the protection and resilience of data and systems. Also to increasing complexity in supply chain risk management, as well as increasingly numerous AI-supported attacks.
