Report Overview

United Kingdom Cybersecurity Market- Industry Trends & Forecast Report 2027

The United Kingdom cybersecurity market was worth USD 11.1 billion in 2020 and is further projected to reach USD 19.5 billion by the year 2027, growing at a CAGR of 8.4% in the forecast period. The growth of the market is attributed to the increasing adoption of cloud computing and the emergence of e-wallets and online payment applications, which have increased the risks of cyberattacks and data and identity thefts. Strict laws regarding privacy protection in the United Kingdom also favor the cybersecurity market growth.

Source: BlueWeave Consulting

United Kingdom Cybersecurity Market- Overview

Cybersecurity refers to the process and technology for protecting computer systems, networks, and critical data stored on or transferred via the network from attacks. Cyberattacks are increasing in number at a high rate to gain unauthorized access to computers and computer networks, which is causing concern in several industries. The use of cybersecurity offers comprehensive protection against theft and damage to data, thus reducing the risks of breaches and attacks on IT systems.

United Kingdom Cybersecurity Market Forecast and Trends

Growth Drivers

Growing Automation in Cybersecurity

The adoption of automation in cybersecurity allows faster analysis which results in faster detection and intervention of cyberattacks. Around 98% of cybersecurity providers in the United Kingdom plan to automate security in their organizations by the end of next year. Globally, this is expected to lead to growth in the UK cybersecurity market. Automation in cybersecurity advances threat intelligence processing, incident response/management, etc., which is expected to attract potential organizations seeking cybersecurity services.

Government Investment in Strengthening Cybersecurity

With increasing cyberattacks cases and data breaches in the country, the government is significantly investing in strengthening cybersecurity laws. For instance, the UK government recently announced its new cybersecurity legislation to protect smart consumer devices. Furthermore, it has also revealed its plans to invest USD 5.8 million (£5 million) towards national cybersecurity that includes creating a special task force to perform special retaliatory attacks. These regulations are anticipated to boost the growth of the United Kingdom cybersecurity market.

Restraints

Limitations in Cybersecurity

Even though cybersecurity solutions and services are evolving with advanced technology, its limitations act as a major restraint for the growth of the United Kingdom cybersecurity market. For instance, the development or emergence of unknown bugs can easily pass through the cybersecurity structures and give access to any company’s data. Furthermore, the growing adoption of IoT is also emerging as a major threat to the market. Additionally, the increasing number of IoT devices connected through a network makes the way for vulnerability.

Impact of COVID-19 on United Kingdom Cybersecurity Market

The sudden outbreak of the COVID-19 pandemic presented tremendous growth opportunities to the United Kingdom cybersecurity market. As soon as the pandemic broke out, the governments of different countries imposed a strict lockdown, which forced many industries to operate from their homes and through cloud computing. As a result, the need for cybersecurity to ensure the safe transfer and storage of data emerged, propelling the growth of the cybersecurity market. However, several organizations are still not offering ‘cyber-safe remote working environments. But the government’s stricter privacy and cybersecurity laws are expected to boost the United Kingdom cybersecurity market in the forecast period.

United Kingdom Cybersecurity Market - By Component

Based on components, the United Kingdom cybersecurity market is segmented into hardware, software, and services. The services segment accounts for the largest market share due to the limited investment involved, along with the deployment of advanced security solutions. This segment is further classified into professional services and managed services. On the other hand, the hardware segment is highly prominent among large organizations as they invest in advanced security systems, such as USB flash drives, firewalls, Intrusion Prevention systems, etc. Likewise, the cybersecurity software segment also holds a significant share in the market and is much more prevalent among small and medium-sized enterprises.

United Kingdom Cybersecurity Market - By Security Type

Based on security types, the United Kingdom cybersecurity market is segmented into network security, endpoint security, application security, cloud security, and others. The network security segment accounts for the largest share in the market as it reduces the risk of data theft and sabotage. The increasing volume of data breach cases for acquiring sensitive information, especially in the banking sector, is propelling the need for network security. The cloud security segment is also growing at a high rate because of the increasing adoption of cloud computing.

United Kingdom Cybersecurity Market - By Deployment Mode

Based on the deployment modes, the United Kingdom cybersecurity market is segmented into on-premises and cloud. The on-premise segment dominated the market till the year 2020. Large organizations prefer on-premise deployment as it ensures higher security and data confidentiality as compared to the cloud. However, cloud deployment is projected to witness its highest growth rate in the forecast period, especially after the COVID-19. The service providers offer higher security during cloud deployment. Furthermore, it requires little infrastructure setup and maintenance, which contributes to its market growth.

United Kingdom Cybersecurity Market: Competitive Landscape

The leading players in the United Kingdom cybersecurity market are PwC UK Cyber Security, 10Duke, 7Safe, Activereach, Acunetix Ltd., Acuris Risk Intelligence - C6, ADACOM, Aderma Security, CensorNet, Codified Security, Bulletproof (Cyber Security), and other prominent players.

The United Kingdom cybersecurity market is highly fragmented with the presence of established cybersecurity firms with advanced security features. To gain a larger market share, the companies heavily focus on real-time solutions and a wide range of cybersecurity services. They are also extensively investing in adopting advanced technologies like automation, artificial intelligence (AI), machine learning (ML), etc. Furthermore, the adoption of competitive strategies such as partnerships, mergers & acquisitions, joint ventures, etc., are also prominent in this market.

Recent Developments

• In October 2021, CompTIA, the non-profit organization for the global information technology (IT) industry, announced to have expanded the CompTIA ISAO (Information Sharing and Analysis Organization) to the United Kingdom to serve as a focal point to deal with cyber threats.
• In September 2021, SenseOn, a UK-based self-driving cyber defense platform, announced to have raised a USD 20 million (£17.1 million) Series A funding round to scale its cloud-native AI cybersecurity platform.

Scope of the Report

By Component

• Hardware
• Software
• Services

1. Professional Services
2. Managed Services

By Software

• Antivirus/Antimalware
• Disaster Recovery
• Advanced Persistent Threat
• Encryption
• Network Access Control
• Threat Intelligence
• Intrusion Detection and Prevention System
• Security and Information Event Management
• Firewall
• Security and Vulnerability Management
• Secure Web Gateway
• Risk and Compliance Management
• Security Orchestration Automation and Response
• Identity and Access Management
• Others

By Security Type

• Network Security
• Endpoint Security
• Application Security
• Cloud Security
• Others

By Deployment Mode

• On–Premises
• Cloud

By Organization Size

• Small and Medium–Sized Enterprises
• Large Enterprises

By End-User

• Aerospace And Defense
• Government
• Banking, Financial Services, And Insurance (BFSI)
• IT
• Healthcare
• Retail
• Manufacturing
• Energy and Utilities
• Telecommunication
• Media and Entertainment
• Others

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Key Market Segments
2. Research Methodology
   1. Qualitative Research
   2. Methodology
   3. Regional Split of Primary & Secondary Research
   4. Secondary Research
   5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
   6. Market Size Estimation
   7. Assumptions for the Study
   8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
   1. Value Chain Analysis
   2. DROC Analysis
      1. Market Drivers
         1. Growing Automation in Cybersecurity
         2. Government Investment in Strengthening Cybersecurity
      2. Market Restraints
         1. Scope Of Limitations in Cybersecurity
      3. Market Challenges
         1. High Cost Involved in Cybersecurity Deployment
      4. Market Opportunity
         1. Growing Adoption of Cybersecurity in Small & Medium-Sized Enterprises
         2. Expanding Demand for Identity and Access Management Software
   3. Recent Developments
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
5. United Kingdom Cybersecurity Market Overview
   1. Market Size & Forecast by Value, 2017-2027
   2. Market Size and Forecast, By Segment
      1. By Component
         1. Hardware
         2. Software
         3. Services
            1. Professional Services
            2. Managed Services
      2. By Software
         1. Antivirus/Antimalware
         2. Disaster Recovery
         3. Advanced Persistent Threat
         4. Encryption
         5. Network Access Control
         6. Threat Intelligence
         7. Intrusion Detection and Prevention System
         8. Security and Information Event Management
         9. Firewall
         10. Security and Vulnerability Management
         11. Secure Web Gateway
         12. Risk and Compliance Management
         13. Security Orchestration Automation And Response
         14. Identity and Access Management
         15. Others
      3. By Security Type
         1. Network Security
         2. Endpoint Security
         3. Application Security
         4. Cloud Security
         5. Others
      4. By Deployment Mode
         1. On–Premises
         2. Cloud
      5. By Organization Size
         1. Small and Medium–Sized Enterprises
         2. Large Enterprises
      6. By End-User
         1. Aerospace and Defense
         2. Government
         3. Banking, Financial Services, And Insurance (BFSI)
         4. IT
         5. Healthcare
         6. Retail
         7. Manufacturing
         8. Energy and Utilities
         9. Telecommunication
         10. Media and Entertainment
         11. Others
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Market Share Analysis (2020)
   3. Competitive Benchmarking by Operating Parameters
7. Impact of COVID-19 on United Kingdom Cybersecurity Market
8. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
   1. PwC UK Cyber Security
   2. 10Duke
   3. 7Safe
   4. Activereach
   5. Acunetix Ltd.
   6. Acuris Risk Intelligence - C6
   7. ADACOM
   8. Aderma Security
   9. CensorNet
   10. Codified Security
   11. Bulletproof (Cyber Security)
   12. Other Prominent Players
9. Key Strategic Recommendations

List of Figures

Figure 1: United Kingdom Cybersecurity Market Segmentation

Figure 2: United Kingdom Cybersecurity Market Value Chain Analysis,

Figure 3: Company Market Share Analysis, 2020

Figure 4: United Kingdom Cybersecurity Market Size, By Value (USD Million), 2017-2027

Figure 5: United Kingdom Cybersecurity Market Share (%), By Component, By Value, 2017-2027

Figure 6: United Kingdom Cybersecurity Market Share (%), By Software, By Value, 2017-2027

Figure 7: United Kingdom Cybersecurity Market Share (%), By Security Type, By Value, 2017-2027

Figure 8: United Kingdom Cybersecurity Market Share (%), By Deployment Mode, By Value, 2017-2027

Figure 9: United Kingdom Cybersecurity Market Share (%), By Organization Size, By Value, 2017-2027

Figure 10: United Kingdom Cybersecurity Market Share (%), By End User, By Value, 2017-2027

List of Tables

Table 1: United Kingdom Cybersecurity Market Size, By Component, By Value, 2017-2027

Table 2: United Kingdom Cybersecurity Market Size, By Software, By Value (USD Million), 2017-2027

Table 3: United Kingdom Cybersecurity Market Size, By Security Type, By Value (USD Million), 2017-2027

Table 4: United Kingdom Cybersecurity Market Size, By Deployment Mode, By Value (USD Million), 2017-2027

Table 5: United Kingdom Cybersecurity Market Size, By Organization Size, By Value (USD Million), 2017-2027

Table 6: United Kingdom Cybersecurity Market Size, By End User, By Value (USD Million), 2017-2027

Table 7: PwC UK Cyber Security Financial Analysis

Table 8: PwC UK Cyber Security Business Overview

Table 9: 10Duke Financial Analysis

Table 10: 10Duke Business Overview

Table 11: 7Safe Financial Analysis

Table 12: 7Safe Business Overview

Table 13: Activereach Financial Analysis

Table 14: Activereach Business Overview

Table 15: Acunetix Ltd. Financial Analysis

Table 16: Acunetix Ltd. Business Overview

Table 17: Acuris Risk Intelligence - C6 Financial Analysis

Table 18: Acuris Risk Intelligence - C6 Business Overview

Table 19: ADACOM Financial Analysis

Table 20: ADACOM Business Overview

Table 21: Aderma Security Financial Analysis

Table 22: Aderma Security Business Overview

Table 23: CensorNet Financial Analysis

Table 24: CensorNet Business Overview

Table 25: Codified Security Financial Analysis

Table 26: Codified Security Business Overview

Table 27: Bulletproof (Cyber Security) Financial Analysis

Table 28: Bulletproof (Cyber Security) Business Overvie