11 European cybersecurity organizations started issuing the ‘Cybersecurity Made In Europe’ label to cybersecurity companies, primarily SMEs and start-ups.
On Tuesday, ECSO’s (European Cyber Security Organization) marketing tool to promote European cybersecurity companies and increase their visibility on the European and on the global market went live.
‘Cybersecurity Made in Europe’ is designed to make European companies stand out from global competitors.
“The Label is an important cornerstone to raise awareness of cybersecurity made in Europe and to increase the visibility of providers to their customers so that they can then grow to a level where they contribute to the independence of our cybersecurity infrastructure in Europe,” Axel Deininger, CEO of secunet Security Networks AG and member of the ECSO Board of Directors, said in a press conference.
So far, 11 European organizations from Denmark, United Kingdom, Germany, Belgium, Finland, Poland, and Bulgaria have joined the initiative.
In 2019, the EU cybersecurity market was worth €25 billion and had 12,000 companies. 74% of them are micro-companies and SMEs. At the moment, market fragmentation and access-to-markets is a key challenge for SMEs, and especially so for cybersecurity companies.
Despite being nearly double the population of the United States, Europe’s cybersecurity market share is half as high, ESCO’s fact sheet reads.
“We believe that the label will play an important role in helping European cybersecurity companies to position themselves on the market and be recognized as European,” Luigi Rebuffi, ECSO Secretary-General, said in a press conference.