Increasing adoption of IOT devices, cloud platforms, increasing ransomware attacks and growing industrialisation to drive Central & Eastern Cybersecurity Market during the forecast period.
According to TechSci Research report, “Central & Eastern Europe Cybersecurity Market By Solutions Type (Firewall, Antivirus and Antimalware, Risk and Compliance Management, Identity & Access Management, Data Loss Prevention, Intrusion Detection/Prevention System, Encryption & Decryption, Secure Web Gateways, Email Filtering, Others), By Deployment Type (On-Premises & Cloud), By Security Type (Network Security, Endpoint Security, Cloud Security, Application Security, Content Security, Others), By End Use Industry (BFSI, Defense, IT & Telecom, Healthcare, Retail, Energy & Power, Others), By Country, Competition Forecast & Opportunities, 2016-2026’’, the Central & Eastern Europe Market is projected to cross USD11.019 billion by 2026, and is expected to grow at a CAGR of 14.35% during the forecast period owing to the rising demand for IOT devices, usage of cloud based platforms, adoption of work from home culture and increased cyberattacks across the Central & Eastern Europe. Increased use of cybersecurity measures across the healthcare industry is further propelling the market.
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The Central & Eastern Europe Cybersecurity Market can be segmented based on solutions type, deployment type, security type, end use industry and country. Based on solutions type, the market can be segmented into firewall, antivirus & antimalware, risk and compliance management, identity & access management, data loss prevention, intrusion detection/prevention system, encryption and decryption, secure web gateways, email filtering, others including unified threat management, endpoint detection and response etc. The firewall segment held 15.78% share in 2020, however secure web gateways segment is the fastest growing in future. In terms of deployment type, the market can be bifurcated into on-premises and cloud. In 2020, on-premises segment dominated the market with a share of 56.20% and is expected to decrease in the upcoming years due to adoption of cloud-based solutions which offers less implementation cost and better service. Based on security type, the market can be segmented into network security, endpoint security, cloud security, application security, content security, others including web security, critical infrastructure security, etc. The network security segment is expected to dominate the market with a share of 26.91% in 2020, however cloud security segment is expected to grow at a faster rate because of the increased adoption of cloud computing and cloud platforms across the industries. Based on end use industry, the market can be segmented into BFSI, defense, IT and telecom, healthcare, retail, energy and power, others including manufacturing, automotive, etc. The defense segment captures the market and held a share of 20.80% in 2020. Healthcare segment is expected to grow at a higher rate due to increased cyberattacks and adoption of advanced security measures across the healthcare sector.
Cisco Systems Inc., IBM Corporation, Fortinet Inc., Palo Alto Networks Inc., McAfee Corp, Sophos Group Plc, CrowdStrike Holdings Inc., FireEye Inc., Juniper Networks Inc., Check Point Software Technologies Inc, CyberArk Software Ltd., Trend Micro Inc., Zscaler Inc., Sonicwall Inc., Barracuda Networks Inc., are among the leading players operating in the Central & Eastern Europe Cybersecurity Market. Companies operating in the market are using strategies such as product advancement through the addition of new features, mergers, and collaborations to boost their share.
“Czech Republic is expected to dominate the Central & Eastern Europe Cybersecurity Market primarily due to adoption of a comprehensive regulation of cybersecurity which was introduced in the year 2014. The adoption of IOT devices, increased use of cloud-based platforms is driving the growth in the region. The work from home culture due to the outbreak of COVID-19 pandemic has increased the use of remote devices making the organizations more focused towards the adoption of cybersecurity measures to protect their sensitive and confidential data. Huge successful technological investments have been done in the healthcare sector, making the industry more prone to the cyberattacks, hence the demand for cybersecurity measures in the industry is likely to increase in the nearby future as well.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“Central & Eastern Europe Cybersecurity Market By Solutions Type (Firewall, Antivirus and Antimalware, Risk and Compliance Management, Identity & Access Management, Data Loss Prevention, Intrusion Detection/Prevention System, Encryption & Decryption, Secure Web Gateways, Email Filtering, Others), By Deployment Type (On-Premises & Cloud), By Security Type (Network Security, Endpoint Security, Cloud Security, Application Security, Content Security, Others), By End Use Industry (BFSI, Defense, IT & Telecom, Healthcare, Retail, Energy & Power, Others), By Country, Competition Forecast & Opportunities, 2016-2026” has evaluated the future growth potential of the Central & Eastern Europe Cybersecurity Market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Central & Eastern Europe Cybersecurity Market.
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