This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 8/22/2018

Overview

Sweden is one of the most well-connected countries in the world with over 95 percent of the population having access to internet. With ever-growing online activity, reported instances of cybercrime are on the rise. A recent Symantec survey estimated that in 2017, every 5th Swede was exposed to some form of cybercrime, resulting in total financial losses of almost USD 4 billion. Furthermore, according to the Swedish National Defense Radio Establishment (FRA), there were over 10,000 attempted cyber security attacks against Swedish entities every month during 2017.
In June 2017, the Swedish government launched a national strategy for cyber security to comply with the EU Directive on network and information systems security with the following six priority areas:
  1. securing a systematic and comprehensive approach in cyber security efforts;
  2. enhancing network, product, and system security;
  3. enhancing capability to prevent, detect, and manage cyberattacks and other IT incidents;
  4. increasing the possibility of preventing and combating cybercrime;
  5. increasing knowledge and promoting expertise; and
  6. enhancing international cooperation.Furthermore, in June 2018, the Swedish government passed a new law on IT security for critical and digital service sectors that will apply to operators of network services in seven societally important sectors: (1) energy, (2) transportation, (3) banking operations, (4) financial infrastructure, (5) healthcare, (6) drinking water supply, and (7) digital infrastructure. The law will come to effect on August 1, 2018, and it stipulates the operators to take appropriate security measures to protect the networks and to report serious incidents to the relevant national authority.
Unit: USD millions2015201620172018 (Estimated)
Total Local Production576623758765
Total Exports34363840
Total Imports458463480500
Imports from the US82869094
Total Market Size1.0001.0501.2001.225
Exchange Rates8.48.58.48.8
(total market size = (total local production + imports) - exports)
Please note that the local production data is based on industry estimates
Sources:
Global Trade Atlas
U.S. Department of Commerce Bureau of Economic Analysis
LSEC
SCB – Statistics Sweden

Leading Sub-Sectors

  • Application Security: vulnerability assessment and analysis tools, patch management software, content filtering and monitoring software;
  • Identity and Access Based Services: intrusion detection systems, authentication systems, anomaly detection & prevention systems, messaging security, access management systems;
  • Situational Awareness: Deep & Dark Web investigation services, attack trend analysis services, intrusion response services;
  • System Recovery and Data Cleansing: automated data cleansing tools, validation and verification tools, de-duplication software.

Opportunities

The public sector and critical infrastructure sectors (transportation, energy, and communications) account for roughly 30 percent of the cyber security solutions demand. Investments in cyber security are expected to continue to grow in 2018 due to both an overall increase in IT security awareness and the new regulatory frameworks. Other sectors with high IT security demand are the financial (fintech) and advanced manufacturing sectors. Fintech companies account for 20 percent of all private sector IT spending, and according to a 2017 FICO/Ovum Swedish fintech market survey, 80 percent of the companies interviewed for the survey are planning to further improve their corporate IT security through 2019.

The legacy manufacturing companies are in the process of digitalizing parts of their production with increased systems’ integration, connected devices, and both raw and analyzed data moving to cloud-based platforms. Industrial cyber security has a wider scope than traditional IT security, as it involves the company’s products and production processes with sensitive IPR information Demand for applications such as enhanced Industrial Control Systems (ICS) capabilities and operational technology (OT) security platforms is increasing.  

Public Procurement


There is no national database for public sector contracts in Sweden. Instead, the contracts are available on several private sector databases, listed on the National Agency for Public Procurement website. Procurements that exceed specific contract values, are also published in the EU database TED.


Web Resources

Data Inspection Board  (http://www.datainspektionen.se/in-english)
Internet Security  (https://www.informationssakerhet.se)
Swedish Civil Contingencies Agency (https://www.msb.se/en/)
Swedish Cyber Security Policy (http://www.government.se/government-policy/ict-policy/)
Swedish Post and Telecom Authority  (https://www.pts.se/en-GB/)


Trade Events

Nordic IT Security, Nov 15, 2018, Stockholm
https://www.nordicitsecurity.com/
SecTech Sweden, November 19 - 20, 2019, Stockholm
https://www.securityworldmarket.com/sectech/se/en/

Local Commercial Specialist: Tuula Ahlstrom, tuula.ahlstrom@trade.gov

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.



Sweden Information and Communication Technology Safety and Security Trade Development and Promotion