Italy Cyber Security Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Italy Cyber Security Market Growth

A research identified Italy as the third most targeted nation for malicious email campaigns in the third quarter of 2021, accounting for 5.47% of such attacks. Additionally, a study by Comparitech assessed 75 countries based on various criteria to determine their overall cybersecurity scores, placing Italy in 54th position with a score of 21.09. The most recent IBM Cost of a Data Breach Report for 2023 report revealed that 16% of data breaches in Italy were attributed to phishing, while 15% resulted from compromised credentials. Additionally, in 2020, Italy recorded 1,144 instances of stalkerware, ranking second in Europe after Germany, which reported 1,547 cases, and eighth globally.

In May 2022, the Italian government unveiled its inaugural National Cybersecurity Strategy, which is set to be implemented in 2026. The strategy document outlined 82 objectives aimed at addressing cyber threats and enhancing cyber resilience. Effective cybersecurity measures are essential for safeguarding sensitive information, including personal data, financial records, and intellectual property, against unauthorised access, breaches, and theft. Maintaining customer trust and adhering to data protection regulations rely on this crucial protection. Cyberattacks have the potential to result in substantial financial losses stemming from theft, fraud, incident response expenses, and recovery costs. By implementing robust cybersecurity protocols, organisations can thwart these attacks and reduce their financial repercussions.

Key Trends and Development

Rapid digitalisation; increasing investments in cyber security by large organisations, favourable government initiatives, and surging research and development activities are propelling the Italy cyber security market expansion

May 2024

Italy-based Fincantieri partnered with French company, DEAS, to boost the cyber security resilience of commercial and military fleets. Under the partnership, Archimedes, a product designed to create cyberattacks and test the responsiveness of crews and the resilience of navigation was developed.

December 2023

Telecom Italia (TIM) announced that it has designed a new microchip for boosting cyber security in fields like cloud infrastructure, mobile devices, and defence systems by providing fully encrypted communication. The new microchip also aims to shield critical infrastructure like power grids, railway tracks, dams, and water networks from cybersecurity threats.

June 2023

Milan-based start-up, Muscope Cybersecurity, which develops advanced cybersecurity solutions for managing and identifying cyber risks, concluded a funding round of EUR 800,000. Through the investment, the company aims to accelerate product development and strengthen its presence in Italy.

May 2022

The Italian government introduced the "National Cybersecurity Strategy" for 2022/26 to enhance the resilience of the country against cyber threats. Under the strategy, the country aims to devote 1.2% of its gross national investment each year to cyber security.

Rapid Digitalisation

Rapid digitalisation and the trend of remote work in the country, buoyed by the COVID-19 pandemic, are increasing the threat of cyberattacks. This, coupled with the increasing adoption of automation and advanced technologies, is driving the demand for robust cybersecurity solutions.

Increasing Investments in Cyber Security by Large Organisations

With increasing incidences of cybercrimes, rising adoption of advanced technologies, and growing use of IoT devices by large organisations, adopting cyber security measures becomes paramount. Advanced cyber security tools and solutions that provide real-time protection from cyber threats are gaining popularity.

Introduction of Favourable Government Initiatives

The Italian government is putting forward various strategies, laws, agencies, and investments to combat cybercrimes and ensure a high level of security for IT systems, networks, and services used by public administration, private companies, government agencies, and state-owned entities.

Surging Research and Development Activities

Research centres, universities, and innovative start-ups in the country are engaged in research activities to develop advanced cybersecurity technologies with resilient capabilities and position Italy as one of the most important players in the global cyber market.

Italy Cyber Security Market Trends

The introduction of favourable government initiatives aimed at bolstering the resilience against cyberattacks is favouring the market expansion. Through the National Cybersecurity Strategy, the Italian government intends to manage cyber crises effectively, prevent online disinformation, predict the evolution of cyber threats, reduce the impact of cyberattacks on national infrastructure, and ensure a cyber-resilient digital transformation.

In Italy, the increasing digitalisation of critical sectors such as transport, utilities, oil and gas, energy, health, and finance makes them vulnerable to cyberattacks. This, along with the evolving threat landscape, is prompting companies to develop cyber security expertise to protect critical infrastructure from cyberattacks and ensure the continuity of essential services.

Italy Cyber Security Industry Segmentation

Italy Cyber Security Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Offering

• Solutions
  • Identity and Access Management
  • Antivirus/Antimalware
  • Encryption and Tokenisation
  • Compliance and Policy Management
  • Firewall
  • Others
• Services

Market Breakup by Deployment Mode

• On-Premises
• Cloud

Market Breakup by Organisation Size

• Large Enterprises
• Small and Medium Enterprises (SMEs)

Market Breakup by Security

• Network Security
• Cloud Security
• End Point and IOT Security
• Application Security

Market Breakup by Industry Vertical

• BFSI
• Government
• Healthcare and Life Sciences
• Aerospace and Defence
• Manufacturing
• Others

Italy Cyber Security Market Share

Based on the industry vertical, the market is segmented into BFSI, government, healthcare and life sciences, aerospace and defence, and manufacturing, among others. The BFSI sector is projected to grow at a CAGR of 8.4% during the forecast period of 2024-2032. The significance of cybersecurity within the BFSI sector is underscored by its role in safeguarding sensitive financial information, thwarting fraudulent activities, ensuring adherence to regulatory requirements, protecting customer data, and preserving trust and operational integrity in the face of escalating cyber threats and vulnerabilities.

Leading Companies in the Italy Cyber Security Market

Major players are focusing on technological advancements and regulatory compliances to gain a competitive edge in the market.

• IBM Corporation
• Cisco Systems Inc.
• Intel Corp.
• Dell Inc.
• Fortinet Inc.
• Trend Micro Inc.
• Oracle Corporation
• Fujitsu Ltd.
• McAfee LLC
• Palo Alto Networks Inc.
• F5 Inc.
• Others

The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.