UK Cybersecurity Market Size (2024 - 2029)

The UK Cybersecurity Market is experiencing significant growth driven by the increasing frequency of cyberattacks and the rising demand for digitalization and scalable IT infrastructure. The government's proactive measures, including the launch of a comprehensive National Cyber Security Strategy, aim to enhance the country's defensive capabilities and reduce reliance on non-aligned international technologies. The market's expansion is further supported by collaborations, such as the UK-India partnership to bolster cyber resilience, and initiatives to improve security standards in the telecommunications sector. The growing number of IoT devices and smart city projects also contribute to the market's development, as they increase vulnerability to cyber threats, necessitating advanced cybersecurity solutions.

Market Size of UK Cybersecurity Industry

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UK Cybersecurity Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 15.72 Billion
Market Size (2029) USD 25.81 Billion
CAGR (2024 - 2029) 10.42 %
Market Concentration Medium

Major Players

UK Cybersecurity Market Major Players

*Disclaimer: Major Players sorted in no particular order

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UK Cyber Security Market Analysis

The UK Cybersecurity Market size is estimated at USD 15.72 billion in 2024, and is expected to reach USD 25.81 billion by 2029, growing at a CAGR of 10.42% during the forecast period (2024-2029).

  • Increasing cyberattacks in the country have propelled it to strengthen its defensive capabilities, and the rising demand for digitalization and scalable I.T. Infrastructure, the increasing need to tackle risks from third-party vendor risks, and the adoption of a cloud-first strategy has been driving the growth of cybersecurity solutions and services in the country.
  • The British government recently launched a new National Cyber Security Strategy, hailed as a 'blueprint' to protect the U.K. from cyber threats and 'solidify its position as a global cyber power.' The strategy also signals further moves to reduce the U.K.'s reliance on international suppliers or technologies that do not share 'the U.K.'s values.
  • According to gov. uk, the U.K.'s cybersecurity sector is quickly increasing, with over 1400 businesses making £8.9 billion in revenue last year, supporting 46,700 skilled jobs, and attracting significant outside investment. This business is vital to cyber power, security, global influence, and economic development.
  • For Vision 2030, the United Kingdom and India collaborated in April 2022 to strengthen their mutual cyber resilience by advancing a comprehensive and whole-of-society approach. To accomplish the alliance, the states emphasized their commitment to a collaborative program of cooperation concentrating on cyber governance, resilience, deterrence, and capacity building.
  • With the growing 5G and total fiber broadband networks in the country, the government, in collaboration with telecommunication companies, is taking initiatives to tackle cyberattacks and improve security standards and practices across the United Kingdom's telecoms sector.
  • The increased rate of cybercrimes has driven the focus on developing new solutions to tackle them, which has characterized the country's investment landscape. For instance, Bridewell Consulting, a cybersecurity services company dealing with Managed Detection Response and Security Operations Centre, acknowledged a multi-million dollar investment from Growth Capital Partners, a private equity firm, to expand its operations in the U.K. and the rest of Europe.
  • The U.K. is also home to the largest cybersecurity event in Europe, Infosecurity Europe. The event has over 400 exhibitors, including over 120 U.S. companies, that showcase their latest information security solutions and products to over 19,500 industry professionals.
  • Further, the vulnerability and exposure to diverse cyber-attacks have increased with the increased Internet of Things (IoT) devices. Along with smart city initiatives, the trend of increasing IoT and connected devices in the country is expected to continue during the forecast period.

UK Cyber Security Industry Segmentation

Cybersecurity solutions help an organization monitor, detect, report, and counter cyber threats that are internet-based attempts to damage or disrupt information systems and hack critical information using spyware, malware, and phishing to maintain data confidentiality. The study is structured to track the revenues accrued by cybersecurity vendors through sales of various solutions and allied services.

UK Cybersecurity Market is segmented by offering (security type [cloud security, data security, identity access management, network security, consumer security, infrastructure protection], services), by deployment (cloud, on-premise), and by end user (BFSI, healthcare, manufacturing, government & defense, IT, and telecommunication). The market sizes and forecasts are provided in terms of value in USD for all the segments.

By Offering
Security Type
Cloud Security
Data Security
Identity Access Management
Network Security
Consumer Security
Infrastructure Protection
Other Security Types
Services
By Deployment
Cloud
On-premise
By End User
BFSI
Healthcare
Manufacturing
Government & Defense
IT and Telecommunication
Other End Users
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UK Cybersecurity Market Size Summary

The UK cybersecurity market is experiencing significant growth, driven by an increase in cyberattacks and the rising demand for digitalization and scalable IT infrastructure. The government's proactive measures, such as the launch of a new National Cyber Security Strategy, aim to bolster the country's defenses and reduce reliance on international technologies. This strategy, along with collaborations like the UK-India partnership for Vision 2030, underscores the UK's commitment to enhancing its cyber resilience. The market is characterized by a semi-fragmented landscape with major players like IBM, Cisco, and BAE Systems, who are actively engaging in mergers, acquisitions, and strategic partnerships to strengthen their market positions. The growing adoption of cloud-based solutions is also reshaping the cybersecurity landscape, as businesses seek to leverage the cost-effectiveness and scalability of cloud services while addressing security challenges.

The financial services sector, a critical infrastructure segment, is particularly vulnerable to cyber threats due to its extensive customer base and sensitive financial data. As cybercriminals increasingly target this sector with sophisticated attacks, financial institutions are compelled to adopt advanced cybersecurity measures to protect their systems and comply with regulatory requirements. The shift towards digital banking channels further amplifies the need for robust security solutions. The market's expansion is also reflected in the increased investment in cybersecurity firms and the hosting of major events like Infosecurity Europe, which showcases the latest in information security solutions. As the UK continues to enhance its cybersecurity capabilities, the market is poised for substantial growth, supported by both domestic initiatives and international collaborations.

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UK Cybersecurity Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Value Chain Analysis

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Buyers

      2. 1.3.2 Bargaining Power of Suppliers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitutes

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Offering

      1. 2.1.1 Security Type

        1. 2.1.1.1 Cloud Security

        2. 2.1.1.2 Data Security

        3. 2.1.1.3 Identity Access Management

        4. 2.1.1.4 Network Security

        5. 2.1.1.5 Consumer Security

        6. 2.1.1.6 Infrastructure Protection

        7. 2.1.1.7 Other Security Types

      2. 2.1.2 Services

    2. 2.2 By Deployment

      1. 2.2.1 Cloud

      2. 2.2.2 On-premise

    3. 2.3 By End User

      1. 2.3.1 BFSI

      2. 2.3.2 Healthcare

      3. 2.3.3 Manufacturing

      4. 2.3.4 Government & Defense

      5. 2.3.5 IT and Telecommunication

      6. 2.3.6 Other End Users

UK Cybersecurity Market Size FAQs

The UK Cybersecurity Market size is expected to reach USD 15.72 billion in 2024 and grow at a CAGR of 10.42% to reach USD 25.81 billion by 2029.

In 2024, the UK Cybersecurity Market size is expected to reach USD 15.72 billion.

UK Cyber Security Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)