EUROPE
The European region is the second-largest market for cybersecurity, after North America. The growing need for strong security measures and compliance management, owing to the increase in internet usage and online applications for ICS, have made the European market more lucrative for vendors delivering ICS security solutions. European manufacturers are paying more attention to operational efficiency due to competition from low-cost manufacturing companies in regions, such as China. The European Union (EU) is taking multiple initiatives to ensure cybersecurity across all major European countries. The EU’s digital agenda has already set out 14 major actions for the improvement of cybersecurity-readiness, which includes actions for reinforcing network and information security policy, and establishment of a well-functioning network of Computer Emergency Response Teams (CERT). Recently, the European countries announced plans to invest around USD 1.36 billion in defense against cyber-attacks. Similarly, the UK government has also decided to invest around USD 2.1 billion over the next five years to enhance cybersecurity. In February 2014, the EU allocated USD 96.54 million for online safety projects under the commission’s 2020 Research Program. Furthermore, SMEs across the region has faced a number of cyber-attacks in recent years and hence, investments in ICS security solutions, such as DDoS, UTM, and SIEM are expected to grow at a rapid pace in the future. ABB has signed a contract for the 1,850 km Trans- Anatolian Natural Gas Pipeline (TANAP) project which will supply natural gas straight to Europe. The UK government has estimated that around 90% of large organizations and around 70% of small organizations have suffered from data breaches between 2014 and 2015. The major security vendors operating in Europe include Atos, Cassidian, and Thales Group.