Italy Cybersecurity Market Size (2024 - 2029)

Italy Cybersecurity Market Analysis

The Italy Cybersecurity Market size is estimated at USD 3.63 billion in 2024, and is expected to reach USD 5.84 billion by 2029, growing at a CAGR of 9.96% during the forecast period (2024-2029).

The Italian government aims to bring a fast broadband connection to market failure areas where commercially-driven investment in internet infrastructure has not developed as expected, which is anticipated to propel the growth of internet users, subsequently boosting the target group for cybercriminals who hope to attack users in the region.

• Remote working led to many attacks on PCs, as cyber criminals shifted their focus to the weakest point in the chain: the endpoint and the employee's PC. The risks associated with cyberattacks pushed larger companies to raise protection levels with tools such as firewalls or virtual private networks (VPN), providing employees with remote access to corporate VPNs and simultaneously augmenting perimeter protection in the country.
• TIM11 and Vodafone, one of the two largest mobile carriers, have already launched their 5G commercial services in some selected cities in Italy, with the remaining three, Wind-Tre, Iliad, and Fastweb, also preparing to do so. Fastweb recently struck a deal with Wind Tre to share 5G frequencies and build a joint proprietary 5G network to reach 90% of the nation by 2026.
• The public digital identity system (Sistema Pubblico di Identità Digitale - SPID) allows citizens to access the public administration's online services with a single digital identity. The Agency for Digital Italy is committed to creating a public administration cloud following the continuing rationalization of national public data centers. Many eGovernment platforms and services have already been implemented.
• According to National Cybersecurity Agency (NCA), Italy will be devoting 1.2% of gross national investment a year to cybersecurity. Italy presented its National Cybersecurity Strategy for 2022/26 and stated to reinforce the government's commitment to addressing cyber threats and increasing the resilience of the country to cyber attacks.
• Further, the implementation of EU legislation and actions stemming from the National Framework and the National Cybersecurity Plan is expected to facilitate the market's growth in the region. As part of its Digital Agenda, the Italian government plans to make considerable investments in digital identity protection to increase digital transactions' security levels and ground consumers' trust by protecting citizens' identities. The Cyber Security Unit is an interagency and inter-governmental operational body designed to operate for cybersecurity within Italy's national cyber architecture. It is responsible for preventing and preparing for a national cyber crisis, declaring such a crisis, and coordinating competent responses following the prime minister's decisions.
• According to some studies, in Italy, the total cost for businesses and citizens for cyber-attacks in 2021 will be equal to approximately USD 6,000 billion. Moreover, as specified by the Minister for technological innovation, V. Colao, almost 95% of public administration servers are subject to the risk of cyber-attacks. Furthermore, organizations often consider cybersecurity a cost they can do without rather than an investment. On the contrary, improvements to the IT systems security would imply a lower price compared to the value of the risk of a cyber-attack, with loss of data or the disruption of normal operations.

Italy Cybersecurity Industry Segmentation

Cybersecurity solutions help an organization monitor, detect, report, and counter cyber threats that are internet-based attempts to damage or disrupt information systems and hack critical information using spyware and malware, and phishing to maintain data confidentiality. The study is structured to track the revenues accrued by cybersecurity vendors through sales of various solutions and allied services.