Ukrainian cybersecurity market has quadrupled in eight years
The Ukrainian cybersecurity market has grown fourfold over the past eight years, reaching US$138 million in 2024.
Source: European Business Association, citing IT Ukraine DataDriven Research & Consulting
Details: The global cybersecurity market was valued at US$186 billion in 2024, with Ukraine accounting for less than 1%. However, projections indicate a 50% growth in the Ukrainian market by 2029, potentially reaching US$209 million.
The primary segment of the Ukrainian cybersecurity market is network security, with the fastest growth seen in cloud security, data protection and endpoint security.
The key drivers of the market in Ukraine include:
- implementation of digital solutions in business and the public sector;
- constant Russian cyberattacks;
- increasing financial and reputational damages from cyberattacks;
- rise of AI usage;
- international technical assistance projects and programmes.
Russia's full-scale invasion has resulted in an increase in cyberattacks in Ukraine, creating an urgent demand for creative and automated cybersecurity solutions. Russian cyber groups have made Ukraine a persistent target, primarily attacking government institutions, military industry facilities, telecommunications, the financial sector and energy infrastructure.
Despite these challenges, Ukraine is not only opposing threats, but also shaping global cybersecurity trends. According to the research, Ukraine's strong R&D activities place it at the forefront of cybersecurity expertise, outperforming several other countries.
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