Luxembourg Cybersecurity Ecosystem: Key Insights (Luxinnovation)

Summary

• In 2020, 310 companies are active in cybersecurity in Luxembourg, compared to 304 companies in 2019.p.9
• 50% of Luxembourg cybersecurity companies are less than 5 years old, and 65% of the new players since 2019 are start-ups.p.9
• Luxembourg ranks 11th globally in the Global Cybersecurity Index, which benchmarks 194 countries.p.7
• Luxembourg ranks 2nd worldwide and 1st among EU Member States in Cisco's 2019 Digital Readiness Index.p.7
• Small companies make up 79% of core business cybersecurity companies in Luxembourg.p.10
• 58 out of the 60 ECSO categories are offered by providers in Luxembourg.p.11
• The top 7 solutions represent 61% of the national market.p.11

Key insights

1. Between 2004 and 2017, the cybersecurity market grew by roughly 35 times.p.9
2. Traditional IT companies account for 47% of non-core business providers of cybersecurity products in Luxembourg.p.10
3. Companies from the banking, financial services and insurance sector account for 16% of cybersecurity services, reflecting the national economy.p.10
4. Luxembourg issued its national cybersecurity strategy in 2011, updated in 2015 and 2018.p.7
5. The Ministry of the Economy plays a key role, so cybersecurity is seen as an economic issue as well as a defence issue.p.8
6. Core business cybersecurity companies are around one quarter of the ecosystem, slightly below the EU average of 34%.p.10
7. Solutions are specialised in identification (29%) and protection (50%) along the risk management value chain.p.11