The European cyber security market of products and services protecting organisations from such breaches was worth $22bn in 2016 and is expected to grow at 8% p.a. to 2018, predominantly driven by increasing spend on services.
As solutions become increasingly complex, the cyber security industry is responding. In particular, specialist security service providers, with managed security service (MSS) capability and cross-border footprints, appear best-positioned to address customers’ fast evolving needs.
Service providers such as NTT, NCC Group and SecureLink are early frontrunners, proof of the ability of security-focussed service providers to grow beyond specific local markets through a mix of organic growth and M&A. These specialist providers appear well positioned to be able to meet current customer needs, and must continue to innovate and adapt to future cyber security challenges.