The Europe open source intelligence market is expected to grow with a CAGR of 17.15%, during the forecast period of 2019 to 2028. Key factors fueling the market growth are, the growing demand from industrial and commercial divisions, and the increased need for cybersecurity due to growing cyber-attacks.
The Europe open source intelligence market growth is evaluated by assessing the United Kingdom, Italy, Belgium, France, Germany, Poland, Russia, and the rest of Europe. Cybersecurity is increasingly gaining prominence in Belgium, over recent years, due to the surging number of cyber-attacks on the country’s companies. According to the Cyber Readiness Report, 2019, 70% of Belgian companies experienced one or more cyber-attacks in 2018. The attacks led to an average loss of ?329,000, per enterprise. Moreover, at least 10% to 20% of companies insured against cybercrime. However, despite the significant efforts established to improve cybersecurity, Belgium continues to be among the most exposed countries, in terms of cyber-attacks and threats.
On the other hand, substantial company investments predominantly fuel Italy’s market, since the majority of information technology (IT) managers acknowledge the increasing risk of intrusion, into the business’ information systems. Italian firms are also becoming more concerned about internal hazards regarding data confidentiality, availability, authentication, and integration. Furthermore, according to the Italian Information Security Association (CLUSIT), more than 1,550 serious cyber-offenses were recorded in 2018, indicating an increase of 38%, since 2017. Hence, such factors are expected to propel the open source intelligence market growth.
Some of the eminent companies operating in the market include, Thales Group, Expert System SPA, Maltego Technologies GmbH, Digital Clues, etc.
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