Market study: The Swedish Market for Cybersecurity

This study focuses on cybersecurity services and aims to offer valuable insights and support actionable strategies for service providers seeking to establish a presence in Sweden. It outlines key market trends, details regulatory and technical requirements, and provides guidance for identifying and securing business partners.

Sweden’s cybersecurity market is expected to reach USD 1.53 billion in 2025 and grow at a compound annual rate of approximately 8.8 per cent through 2030, reaching close to USD 2.44 billion. While this estimate includes both software and hardware-based solutions, the market is increasingly driven by demand for cloud services, software subscriptions, and managed security, which are the focus of the report.

International suppliers and market openness

While Sweden is home to several specialised cybersecurity firms, it also maintains a high level of openness to international service providers. According to the International Trade Administration (2024), foreign cybersecurity solutions, including software, platforms, and related services, contributed significantly to the Swedish market between 2020 and 2023, with combined imports valued at around USD 550–556 million per year. This figure includes both hardware and non-hardware components and reflects the structural role those external providers play in the Swedish cybersecurity ecosystem.

Many Swedish companies complement their local presence by collaborating across borders to access specialised talent and scale service delivery.

Areas with strong market potential

Areas with strong market potential are:

  • Cloud security services
  • Managed Security Services (MSS)
  • Endpoint and email security services
  • Compliance and data protection services
  • Sector-specific cybersecurity for BFSI and the public sector
  • Cybersecurity solutions for SMEs

Cybersecurity spending in Sweden is distributed across multiple sectors. Finance and banking generate nearly 30 per cent of demand, government and defence around 20 per cent, and IT and telecommunications about 16 per cent.

Market structure and access

Sweden’s cybersecurity demand is shaped by strict compliance requirements, high digital maturity, and a preference for local language support. Foreign service providers typically enter the market through specialised partners rather than direct sales.