Market Trends of France Cybersecurity Industry
Network Security is Expected to Witness Major Growth
- There was a cyber attack on Altran Technologies, an engineering consultancy firm based in France, which resulted in the shutting down of its IT network and applications, leading to operations in some European countries, including France.
- In order to protect itself from such attacks, the country invested in its IT infrastructure, particularly for cybersecurity. This spending is projected to increase over the forecast period, which may lead to a demand for cybersecurity solutions.
- There is a rapid increase in the use of 5G technology. 5G implies more bandwidth usage, reliability, and latency while providing devices with the ability to run at maximum speed through improved network solutions. Consequently, areas such as AI, ML, and the Industrial Internet of Things have gained significant traction with 5G.
- As 5G technology is rapidly becoming integral to business applications and presenting new data security risks, more data are expected to be transmitted through the network. Furthermore, the number of internet users is expected to grow rapidly. For users and 5G service providers, cyber attackers are an issue. The global market for network security is, therefore, expected to be stimulated by the growing uptake of 5G services.
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The Retail Sector is Expected to Gain Maximum Traction
- Consumer habits and behaviors changed in the context of the digital revolution, greatly strengthening the relative power of a consumer. The perception of a customer toward a purchase is changing due to the ability to quickly access an increasingly wide offering of products and solutions through various devices, such as PCs, smartphones, and tablets.
- On the other hand, brick-and-mortar stores are using technological innovation to enable new ways of business with an omnichannel approach. A retailer combines and integrates different channels (retail stores, websites, mobile applications, etc.) to support the interaction between a company and consumer in the pre-sale, purchasing, and post-sale stages.
- Due to the COVID-19 pandemic, consumers confined to their homes had to go online to access essential goods, forcing them to adopt digital consumer habits and educate themselves to become digital consumers. This allowed them to enjoy the benefits that digital products offer. People were skeptical of e-commerce in the past, and owing to security concerns, they were compelled to switch to online purchases during the pandemic.
- To become the default choice of users in this region, banks and retailers need to provide their clients with a full range of experiences on the Internet and mobile for both web and mobile payments, such as mobile payments, online retailing, P2P, or cross-border transactions.
- With the rise of online identities, there is a rising risk of identity theft and associated fraud. Mobile operators in the region recognize the need to work closely with governments and the wider industry to address these issues. Several local and international firms have taken several initiatives in the country to promote security and trust regarding mobile phone usage for e-commerce transactions, including Mobile Connect, which has a fast, secure login system that enables individuals to access their online accounts with one click. It provides different levels of security, from low-level website access to highly secure bank-grade authentication.
