European cybersecurity leader Nixu Corporation recently hosted its Capital Markets Day in a virtual format, unveiling its mid-term growth ambitions.
Nixu has published its past grown ambition statement last Fall 2019. However, because of the unforeseeable and highly volatile business environment in the wake of the COVID-19 pandemic, the cybersecurity company decided to temporarily stop its growth ambition by Spring 2020.
Instead of actively pursuing growth, Nixu focused on maintaining business continuity for its operations for the duration of the pandemic.
Now, as vaccination rates increase and society is gradually easing back to the new normal after the pandemic, the business climate is also starting to return to normal.
Also, during the pandemic, digitalization has been largely accelerated due to the need for businesses to operate with employees working at home and the massive shift to digital platforms.
However, Nixu cites that research companies and industry comparisons show that investments in cybersecurity did not see the same accelerated growth during the pandemic. This means that there's an increased risk on the digitalization movement as cyber threats continue to increase.
A Refreshed Strategy
In 2018, Nixu refreshed its strategy, according to which the company expressed its desire to be (1) the best workplace for cybersecurity professionals and (2) the trusted, go-to partner for cybersecurity services for digitalization in Northern Europe.
In the six years from 2014 to 2020, Nixu grew with a compound annual growth rate of 24%, although the pandemic has led to lower growth.
Now, the European cybersecurity leader sees the opportunity to return to its proper growth track, leading it to publish its new ambition measures as the goals of this growth strategy.
The Nixu growth ambition, and the strategy to achieve it, was better explained to investors and stockholders in its virtual Capital Markets Day event.
Information is also available at the Nixu Investor website.
Nixu believes that the cybersecurity services market will see a growth of about 10 percent annually. It aims to grow faster than the market by utilizing both organic and inorganic growth.
The company has also previously invested heavily to boost its international operations, as well as its new service models. This has had a negative effect on the company's profitability, leading the company to look toward a more balanced profitable growth approach.
Lastly, Nixu expects its technology-based managed services to grow faster compared to its professional services.
Riding the Growth of Digitalization
According to Gartner, the global cybersecurity services market is projected to grow at an annual rate of 8% from 2022 to 2025.
Some of the markets where Nixu operates - Finland, Sweden, Denmark, the Benelux - are showing growth figures slightly above the average.
However, right now, the cybersecurity market remains fragmented and immature, yet the company believes that it will consolidate and mature in the next four years.
Nixu has grown into a trusted partner for many of its clients. In its unique position, customers would be looking forward to Nixu solving more diverse challenges. Hence, Nixu's holistic services expand the usual size of its customer relationship.
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