kathimerini.gr
Booming Cybersecurity Market in Greece Amidst Rising Cyberattacks
Greece faces a surge in cyberattacks, ranking second globally in financial sector risk, with over 750 weekly attacks on Greek banks. This fuels the booming cybersecurity market, projected to reach €360 billion by 2030, driven by regulatory pressure (NIS2, DORA) and sophisticated attacks.
- How are new regulations, such as NIS 2 and DORA, impacting the demand for cybersecurity services?
- The rising frequency and sophistication of cyberattacks, coupled with new regulations like NIS 2 and DORA, are fundamentally reshaping the cybersecurity landscape. Global losses from cyberattacks in the financial sector exceed €11.5 billion over the past 20 years, highlighting the significant economic impact. This necessitates a shift toward proactive cybersecurity measures, impacting businesses and consumers.
- What is the immediate impact of the rising number of cyberattacks on businesses and consumers in Greece and globally?
- The cybersecurity market is booming, driven by increased cyberattacks and regulatory pressure. Greek banks alone face over 750 cyberattacks weekly, placing Greece second globally in financial sector risk. This surge fuels demand for robust cybersecurity solutions, boosting companies like Neurosoft, which saw a double-digit growth rate in 2023.
- What are the long-term implications of the growing cybersecurity market, and what challenges remain in achieving comprehensive digital security?
- The cybersecurity market's projected growth to €360 billion by 2030 from €170 billion in 2024 reflects a global trend. This expansion is fueled by both increasing cyber threats and the imperative for organizations to comply with stringent regulations. Companies that fail to adapt risk significant financial and reputational damage.
Cognitive Concepts
Framing Bias
The article frames the story largely around the positive growth and opportunities within the Greek cybersecurity market, highlighting the success stories of several companies and their impressive revenue figures. While acknowledging the threats, the emphasis on market growth might overshadow the severity of the risks involved and give a somewhat optimistic view compared to a purely risk-focused analysis.
Language Bias
The language used is generally neutral and objective, using factual reporting and quotes from industry experts. However, phrases such as "καλπάζει" (galloping) and "ακμάζει" (flourishes) in describing market growth could be considered slightly loaded, as they introduce a degree of subjective assessment.
Bias by Omission
The article focuses primarily on the growth of the cybersecurity market in Greece and the increasing demand for cybersecurity services, but it omits discussion of the specific types of cyberattacks targeting Greek businesses and the effectiveness of current preventative measures. While it mentions the high number of attacks on Greek banks, it doesn't detail the nature or consequences of these attacks. This omission limits the reader's ability to fully assess the severity of the cybersecurity threat and the potential impact on different sectors.
False Dichotomy
The article presents a somewhat simplistic view of the cybersecurity landscape by portraying the situation as a clear-cut choice between companies investing in strong cybersecurity measures and those that do not. It doesn't fully explore the complexities involved, such as budget constraints, varying levels of risk tolerance, or the existence of alternative security strategies.
Sustainable Development Goals
The article highlights the booming cybersecurity market, driven by increasing cyberattacks and regulatory changes like NIS2 and DORA. This growth signifies innovation in cybersecurity solutions and infrastructure development to address these threats. The expanding market and investments in companies like Sphynx directly contribute to infrastructure development in the cybersecurity sector.