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Very few, if any, companies operate without some form of digital process that generate data, and as soon as this data is exploitable, it must be protected. In addition, the EU has very strict data governance laws that are designed to protect the customer and also to render data processors responsible for the lifecycle management of that data. For any company using and storing data, high cybersecurity standards are a must.
Luxembourg is among the front-runner countries for its cybersecurity commitment, both in Europe and in the world. The country ranks 13th in the world (6th in Europe) in the 2020 Global Security Index. A mapping of the Luxembourg cybersecurity ecosystem produced by Luxinnovation and the Luxembourg House of Cybersecurity based on data from December 2019 aimed at providing an overview of available cybersecurity solutions and services lists over 300 cybersecurity companies active in the field. Around ¼ of these have cybersecurity as their core business, while the others include IT security as part of their service portfolio.
The ecosystem is growing steadily as a result of the importance given to the topic worldwide as well as of the increasing number of cyberattacks. Half of Luxembourg’s cybersecurity companies were created in the last five years, and start-ups specialising in new technologies make a key contribution to the development of the ecosystem. An overview of players in the cybersecurity ecosystem is available on Cybersecurity Luxembourg.
