The Europe Information Technology (IT) Security as a Service Market would witness market growth of 12.3% CAGR during the forecast period (2023-2030).
Cloud-based firewalls are one example of IT security services that monitor and restrict incoming and outgoing network traffic based on predetermined security rules. Firewall as a service (FWaaS) provides a scalable and centralized approach to network security, protecting organizations from unauthorized access and cyber threats. These services analyze network and system activities for malicious or security policy violations.
ITSECaaS offers secure VPN solutions that enable organizations to create encrypted connections over the internet. This assures the confidentiality and integrity of data transmitted between remote offices, users, or devices. IT security services deliver endpoint protection against malicious software, viruses, and other cyber threats. This includes real-time scanning, threat detection, and automated removal of malicious entities.
According to the UK Government, the UK's financial services sector is one of the world's most open, innovative, and dynamic. The United Kingdom represents 11% of the global fintech industry. It is home to an estimated 2,500 fintech companies, with six of the top ten in London. The BFSI sector in the UK is undergoing a digital banking transformation, with increased reliance on online and mobile banking services. The adoption of mobile and contactless payment methods has surged in the UK. Thus, all these factors will uplift the regional market’s expansion in the coming years.
The Germany market dominated the Europe Information Technology (IT) Security as a Service Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,485.3 million by 2030. The UK market is exhibiting a CAGR of 11.3% during (2023 - 2030). Additionally, The France market would experience a CAGR of 13.1% during (2023 - 2030).
Free Valuable Insights: The Global Information Technology (IT) Security as a Service Market will Hit $37.4 Billion by 2030, at a CAGR of 12.5%
Based on End User, the market is segmented into BFSI, Education, Telecom, Healthcare, Energy & Utilities, and Others. Based on Offering, the market is segmented into Endpoint Protection, Email Encryption, Information Security, Event Monitoring, Data Loss Prevention, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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