Cyber security in Europe is big business. Globally, the market size was valued at $184.93 billion in 2021, and it is expected to expand at a compound annual growth rate of 12% to 2030. The European slice of the pie accounted for nearly €34 billion in 2021, an 8% increase that year, with an expectation that this growth will continue.
By 2025, spending on security equipment, software and services in Europe will exceed €45 billion. Right now, cybersecurity represents about 3% of the overall IT market – and it is growing three times faster than the rest of the sector thanks to a range of factors.
Some of those are down to the pace of digital transformation of businesses brought on by the pandemic. And as more of us move our shopping and banking habits online, the need to protect our data becomes ever more important. Additionally, according to an EU report, 28% of European SMEs experienced at least one type of cybercrime in 2021, and 32% are very concerned about the risk of hacking online bank accounts, as well as viruses and spyware or malware (29%).
As a result, those with cybersecurity skills are in demand across Europe, and the job market here – as well as globally…
