Markets

Rapid digitalization, geopolitical turbulence, and the rise of cybercrime keep contributing to the cybersecurity market growth. According to research company Gartner, global cybersecurity spend will grow 11,3% in 2023. Cybersecurity market growth in highly digitalized Northern European countries is expected to be faster than in global markets in 2023–2026 (Gartner 2022).

Market growth is increasing the need for skilled professionals in the cybersecurity domain, and according to ISC2, the worldwide gap of cybersecurity experts is estimated to be 3.4 million persons. Due to the increasing demand for cybersecurity expertise, organizations will continue to have the need for the services of cybersecurity companies that are better positioned to grow talent. Geopolitics and countries’ growing need to build resilience with local cybersecurity services and specialists affect market dynamics.

Increased legislation and business-interrupting cyber incidents witnessed during past years have raised overall cybersecurity awareness among leaders. These, together with physical safety risks introduced by cyber-physical systems, have raised cybersecurity to be the topic in boardrooms. To manage these risks, organizations seek to benchmark and control their integral supply chain vendors.

Nixu believes that over the next few years, the market will continue its consolidation and mature while the clients will have confidence in only a few larger companies they partner with. Nixu has gained the position of a trusted partner among many of its clients. With this position, clients wish Nixu to solve ever more diverse challenges. Hence, Nixu’s holistic services expand the average size of a client relationship. Typically, Nixu’s client base is very stable, and client relationships last for a long time, allowing the building of client-specific expertise.

Source:
Gartner Forecast: Information Security and Risk Management, Worldwide, 2020–2026 (ISC)2 Cybersecurity Workforce study 2022

CLIENTS IN THREE SEGMENTS

INFORMATION MANAGEMENT

Information management projects involve protecting and overseeing the safety of our client’s information networks, the trade secrets and other information assets therein and the operation of the network’s support systems. A well-working information security management system, which ensures that a specific risk level is applied throughout your partner network, is a vital part of securing your information management. Our typical clients in this segment include IT managers and chief information security officers.

DIGITAL BUSINESS

The customer service channels used by clients are becoming increasingly digital. Regardless of whether your clients are businesses or consumers, they must have easy and reliable access to your digital services. Private information collected from consumers is absolutely essential for business. At the same time, the EU Data Protection Regulation requires this information to be carefully protected. Monitoring digital services in order to detect and prevent break-ins is critical for your business credibility. Our typical clients in this segment include electronic business managers and customer service managers.

INDUSTRIAL INTERNET

Traditionally, critical infrastructure environments as well as research and development environments and production automation systems have been isolated from companies’ office networks and the Internet. As the industrial Internet develops further, new remote control and intelligent sensor data analysis capabilities will require more extensive networks and connectivity. This introduces new and bigger threats. Ensuring the safety of logistics services, critical infrastructure, devices under development and the security of intelligent production facilities requires increasingly substantial investments in cyber security. Our typical clients in this segment include product development managers and production managers.

Competitive environment and advantages

The cybersecurity market is fragmented. In addition to the cybersecurity experts, or security boutiques, like ourselves there are companies that specialize in information security technologies, IT integrators, international consultant and audit organizations as well as tele operators. Nixu’s segment separates from the general market with its specialization and expertise. In many other segments the cybersecurity is not the main operation but side products and services that supports and supplements other operations. Nixu cooperates with several various operators in the segment.

Measured with the amount of experts we are the largest cybersecurity expert service company in Scandinavia. Our competitive advantages are the focus in cybersecurity services, the largest offering in out field as well as our well-known brand. We are technologically independent, which means we can genuinely choose the most suitable solutions independent of the technology. With our long experience and competent experts we can provide solutions that are the best in the field and already tested in practice.