The Baltic States of Estonia, Latvia and Lithuania occupy a strategic location at the juncture of the EU, Nordic and CIS regions.
Cyber Security is a massively important sector for all Baltic States due to ultra-high usage of IT in everyday life, business and government provision. The region’s border with Russia means that military cyber is highly developed and NATO has centres of excellence in all three countries.
In addition to technological solutions the Baltic States are also emerging as a global centre of excellence in cyber legislation, scenario planning, incident handling and R&D.
For the purposes of this report we have segmented the market in two, IT companies who provide cyber solutions in-region and those industries who procure cyber solutions. Among the latter key buyers include Government, Military, Consumer, Energy, Healthcare, Financial Services, Global Business Services, Telecommunication and IT sectors.
Cyber incidents have been rising rapidly in all three countries. Greater understanding of the risks plus further digitalisation of government and business, including Industrial and Healthcare sectors, mean cyber security will grow further in importance.
Although exact measures of value do not exist, the Baltic cyber security sector should prove interesting to Irish companies seeking export sales and partnerships. Market entry is straightforward due to the same currency, regulation and similarities in market size and business environment. Critical success factors include due preparation and understanding differences in communication style.
Enterprise Ireland is committed to assisting and supporting our clients in market entry and expansion. Our team of experienced professionals in the regional can support you in pre-visit intelligence and in-market introductions, launches, events, etc.
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