Investors
Market
Market overview
F-Secure operates in the large and growing consumer cyber security market, estimated by Gartner to be USD 8.2 billion in 2024 and reaching USD 9.7 billion in 2028, with a projected CAGR of 4 percent for the period.
To advantage of this opportunity, we offer solutions that protect consumers against modern threats such as scams, including also endpoint protection, privacy VPN, identity, personal data and password protection, connected home security, and network security.
-optimized.jpg)
F-Secure revenue is spread globally and originates from three main regions supported by a network of some 200 channel partners. In 2024, the company revenue was distributed across the regions as follows: 31.1 percent came from the North America, 28.7 percent from Nordic countries and 32.9 percent from the rest of Europe while rest of the world including Japan covers 7.3 percent.
Revenue by geography
EUR million
| 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Nordic countries | 42.0 | 40.0 | 39.4 | 36.9 |
| Rest of Europe | 48.1 | 50.0 | 48.7 | 49.6 |
| North America | 45.5 | 32.0 | 17.1 | 14.6 |
| Rest of world | 10.6 | 8.4 | 5.9 | 5.2 |
| Total | 146.3 | 130.4 | 111.0 | 106.3 |
Market trends
Increasing digitalization
The share of digital in our everyday life is increasing constantly. For example, it is estimated that in the US alone, consumers will spend more than 8 hours daily with digital media 2025. Furthermore, based on F-Secure’s own surveys, we’re seeing that more than 50 percent of consumers globally are using digital services such as email, social media and chat on a daily basis. The top 4 most important digital moments also mentioned by the surveyed consumers highlight the increase in digitality:
1) sending / receiving messages,
2) paying bills,
3) finance and banking as well as
4) online shopping.
Consumers’ willingness to pay
Consumers are increasingly ready to invest on cybersecurity. According to market surveys, share of consumers willing to pay for holistic consumer cyber security solution increased by +7 percent between 2023 and 2025, on average EUR 7–10 per month for all-in-one cyber security solution.
Rising cyber security concerns
77 percent of consumers worry about their online safety and 76 percent believe their cyber security risks will increase next year. Related to scams and the on-going “scam pandemic”, more than 1-in-2 consumer s have experienced scam attempts at least monthly. We’re also seeing that even younger people in the 18–24 and 25–34 year age categories have experienced cyber crime, especially as their larger “digital footprint” increases exposure. The problem is also accentuated by the fact that 71 percent of consumers find cyber security too complex.
Cyber security complexity
Messaging, payments, and shopping as mentioned above are the most important digital moments for consumers. Therefore, it is no wonder that these moments are exactly what the scammers are focusing today such as shopping scams and investment scams. Scams are where the consumer cyber security industry has turned its attention, however, consumers are finding it increasingly difficult to stay sufficiently protected. Based on F-Secure surveys, 71 percent of consumers report that they find cyber security too complex and hence are vulnerable against modern, often AI powered threats like scams.
Consumers placing trust in telecoms
Due to the ever growing threat landscape, we’re seeing consumer trust to be in free fall as 73 percent of consumers don’t know who to trust online and 60 percent have no idea if their devices are secure. This means that consumers are looking for a trusted companion and 81 percent are now expecting their Communication Service Provider to keep them protection and provide the security solution. Thereby creating business opportunities for our partners and F-Secure.
