Ukrainian cybersecurity market grows fourfold in eight years
www.pravda.com.ua
Tue, 07 Jan 2025 23:14:47 +0200
The Ukrainian cybersecurity market has grown fourfold over the past eight years, reaching US138 million in 2024.
Source European Business Association, citing IT Ukraine DataDriven Research amp Consulting Details The global cybersecurity market was valued at US186 billion in 2024, with Ukraine accounting for less than 1.
However, projections indicate a 50 growth in the Ukrainian market by 2029, potentially reaching US209 million.
The primary segment of the Ukrainian cybersecurity market is network security, with the fastest growth seen in cloud security, data protection and endpoint security.
The key drivers of the market in Ukraine include implementation of digital solutions in business and the public sector constant Russian cyberattacks increasing financial and reputational damages from cyberattacks rise of AI usage international technical assistance projects and programmes.
Russias fullscale invasion has resulted in an increase in cyberattacks in Ukraine, creating an urgent demand for creative and automated cybersecurity solutions.
Russian cyber groups have made Ukraine a persistent target, primarily attacking government institutions, military industry facilities, telecommunications, the financial sector and energy infrastructure.
Despite these challenges, Ukraine is not only opposing threats, but also shaping global cybersecurity trends.
According to the research, Ukraines strong RampD activities place it at the forefront of cybersecurity expertise, outperforming several other countries.Support UP or become our patron
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