UK Cyber Security market is growing at a CAGR of around 11.8% during the forecast period. The UK is the third-largest economy after Germany and France in the Europe. The digitalization of banking, Insurance, and business services in the country are the key drivers for the growth of the economy. Along with the high internet penetration rate has been acting as the major motivator of the UK cyber security market.
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The awareness of European firms is another major driver of the market’s growth. Enterprises are getting awareness of the cybercrimes and the measures to protect their data and information from these attacks. A survey conducted by Institute for Criminal Justice Studies, University of Portsmouth 2016 – 2017 on 1523 business. About 74% of the UK considered cyber security as a high priority to them, while 31% takes it as of very high priority. Moreover, due to the severity of these attacks, the proportion for very low reduces to 7% which was 13% in 2016. Additionally, 67% of the business invested in cyber security out which 87% were medium size firms and 91% the as large firms.
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In UK, the National Cyber Security Strategy was published which aims for key objectives including defend, detect and develop. According to strategy, defend aims to have the means to protect the UK against evolving cyber threats as well as to respond effectively to incidents. Moreover, it ensures the country’s data, networks and systems are protected and resilient. While, detect involves understanding, investigating, and disrupting hostile action taken against of country. Therefore, it is estimated to augment the demand for cyber security tools in the UK cyber security market.
UK Cyber Security Market Segmentation
• Network Security
• Application Security
• Mobile Security
• Wireless Security
• Cloud Security
• Risk and Compliance Management
• Identity and Access Management
• Data Loss Protection
• Unified Threat Management
• Antimalware and Antivirus
• DDOS mitigation
• Others (Security and Vulnerability Management, and Disaster Recovery)
• Aerospace & Defense
• Others (Manufacturing, and Transportation)
• AVG Securities
• Booz Allen Hamilton
• Capgemini SE
• CISCO Corp.
• CSC Corp.
• Cyberark Software Ltd.
• DELL (Secureworks Inc.)
• Herjavec Group
• IBM Corp.
• Intel Corp.
• Lockheed Martin Corp.
• Palo Alto Networks
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