Expanding your business to Sweden
Gateway to the Nordic cybersecurity market
The Netherlands and Sweden share a similar business culture, making it relatively easy for Dutch companies to do business in Sweden. The Swedish population is innovation savvy and digitally skilled. Stockholm has one of the fastest-growing tech startup scenes in the world, producing startups and breeding unicorns like Skype, Spotify and Klarna.
Sweden is a frontrunner in digitalisation, both in the public sector and in the core industries. However, this digital transformation comes with risks for more cyber threats, therefore requiring a proactive approach to cybersecurity. The National Cybersecurity Index demonstrates that a large proportion of companies haven’t taken the necessary countermeasures to secure their technologies. The fast digitalization thus creates a security gap that needs to be bridged in the near future.
Vulnerability assessment and analysis tools, patch management software, content filtering and monitoring software
Intrusion detection systems, authentication systems, anomaly detection & prevention systems, messaging security, access management systems
Deep & Dark Web investigation services, attack trend analysis services, intrusion response services
Automated data cleansing tools, validation and verification tools, de-duplication software
According to a survey by Sophos, some 60% of Swedish organizations that participated were hit with ransomware attacks in 2019, and a majority paid to get their information back, mainly due to insufficient cyber insurance.
45% of Swedish organisations see cloud account compromise as the biggest threat for the coming years (Statista 2020). Other perceived threats are business e-mail compromise, phishing and nation-state attacks.
The public sector and critical infrastructure sectors (transportation, energy, and communications) account for roughly 30 per cent of the cybersecurity solutions demand.
Over half of the total market value of cybersecurity, almost SEK 6 bln., consists of consultancy services and project assignments.
51% of businesses in Sweden cited brand and reputation damage as the biggest consequence of a cyber attack – followed by data breaches and business and operational disruption.
When quizzed about the biggest risks to their organisation, Swedish CSOs/ CISOs cited outdated or insufficient cybersecurity solutions and technology (49%), followed by lack of proper access controls/processes and human error and lack of security awareness