Europe Cyber Security Market – In-Depth Market Analysis by Renub Research
Market Overview Europe Cyber Security Market is projected to reach US$ 103.51 Billion by 2028, witnessing robust growth driven by the surge in digital transformation, increased data privacy regulations, and growing incidences of cyber threats. In 2022, the market was valued at US$ 49.72 Billion and is expected to register a CAGR of 13% during the forecast period (2023–2028). Europe’s status as a global hub for finance, trade, and innovation makes it a critical target for cybercriminals, further amplifying the demand for robust cybersecurity infrastructure.
Key Drivers
- Rising Internet Penetration: According to Eurostat, 95% of young people (aged 16–29) were internet users as of 2021, driving higher exposure to digital threats.
- Digital Transformation and IoT Growth: The adoption of IoT, wearables, smart TVs, and connected vehicles has exponentially increased the attack surface.
- Cloud and Remote Work: Increased rel