“The volume of the Ukrainian cyber security market has quadrupled over the past eight years and will reach $138 million in 2024.”, — write: epravda.com.ua
The volume of the Ukrainian cyber security market has quadrupled over the past eight years and will reach $138 million in 2024. This is reported by the press service of the European Business Association with reference to the research data of the IT Ukraine DataDriven Research&Consulting association. According to the results of 2024, the global cyber security market is estimated at $186 billion, and Ukraine’s share is less than 1%. However, according to forecasts, by 2029 the market will grow by 50% and reach $209 million. The key segment of the Ukrainian cyber security market is network security. The fastest growth is demonstrated by cloud security, data protection and endpoint protection. Advertising: The main driving forces of the market in Ukraine are: the introduction of digital solutions in business and the public sector, constant Russian cyberattacks, the growth of financial and reputational damage from cyberattacks, the growth of the use of AI, the stimulation of the market by projects and programs of international technical assistance The full-scale invasion of Russia provoked a sharp increase in cyberattacks in Ukraine, which caused strong demand for innovative and automated solutions in the field of cyber security. The Ukrainian market has become a field of constant attacks by Russian hacker groups, which most often target state institutions, objects of the defense-industrial complex, telecommunications, the financial sector, and the energy industry. Ukraine not only repels these threats, but also shapes global trends in cyber defense. The authors of the study note that thanks to active activities in the field of R&D, our country is ahead of other states in cyber security expertise.