IT Security Across European Verticals: Industries Resist the Impact of the Pandemic and Prepare for the New Normal

IT Security Across European Verticals: Industries Resist the Impact of the Pandemic and Prepare for the New Normal

  • August 2020 •
  • 13 pages •
  • Report ID: 5949896 •
  • Format: PDF
The IDC Market Perspective provides an overview of the main trends and dynamics in the IT security market across European verticals before and after the COVID-19 pandemic. In particular, the top European IT security priorities for 2020 pre-COVID-19 are analyzed, and the impact of the pandemic on the European IT security market is reviewed by industry considering the latest IDC spending forecasts. Finally, actionable insights for IT vendors to implement IT security strategies across verticals are provided. "Cybersecurity has been a priority at European companies even before COVID-19 due to increased pressure of EU regulation and market demand for digital transformation. The proliferation of the cloud sparked additional spending on cloud security, in addition to spending required for compliance to regulation such as GDPR, especially in highly regulated verticals," said Vladimir ?ivadinovi?, senior research analyst, IDC European Customer Insights and Analysis. "Unlike other technologies, the effect of the COVID-19 pandemic on the 2020 cybersecurity spending of European companies will be relatively limited, with growth rates staying positive across all industries. Therefore, IT vendors should now consolidate their 2020 security strategy across verticals and focus on execution, exploit existing growth areas, and differentiate their go-to-market strategy around each of them accordingly," said Stefano Perini, senior research analyst, IDC European Customer Insights and Analysis.