According to the latest report by IMARC Group, titled "Global BFSI security Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027", the global BFSI security market reached a value of US$ XX Billion in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2022-2027.
Banking,
financial services and insurance (BFSI) security represents the adoption of
security solutions and services by financial organizations to mitigate the risk
of security breaches and prevent monetary frauds. Some common types of BFSI security
services and tools include encryption, access control, firewalls, video
surveillance, identity and access management, risk and compliance management,
intrusion and fire detection, antivirus applications, etc. BFSI security
solutions are reliable, secure, cost-effective, and provide round-the-clock
protection against various cybersecurity threats.
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Report
Metric |
|
Historical:
2016-2021 |
|
Base Year:
2021 |
|
Forecast
Year: 2022-2027 |
BFSI
Security Market Trends and Drivers:
The
inflating need to manage threats related to employee health, financial
viability, overall public safety, etc., is primarily driving the BFSI security
market. Additionally, the widespread adoption of these security solutions to
enable convenient, safe, and seamless financial transactions is further
catalyzing the market growth.
Besides
this, the escalating demand for encryption software to protect sensitive
customer data and financial transactions is acting as another significant
growth-inducing factor. Moreover, the growing consumer concerns towards the
security of data, including personal and commercial banking details and
confidential corporate information, are also augmenting the global market.
Apart from
this, numerous technological advancements, such as the integration of machine
learning (ML), Internet of Things (IoT), and artificial intelligence (AI)
solutions to assist in tracking the location of the financial criminals,
monitoring transactions, mitigating risks, detecting frauds, managing regulatory
compliances, etc., are anticipated to fuel the BFSI security market over the
forecasted period.
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Note: We are
regularly tracking the direct effect of COVID-19 on the market, along with the
indirect influence of associated industries. These observations will be
integrated into the report.
Global BFSI
Security Market 2022-2027 Analysis and Segmentation:
Competitive
Landscape:
The
competitive landscape of the market has been studied in the report with the
detailed profiles of the key players operating in the market.
Axis
Communications AB, Booz Allen Hamilton Holding Corporation, Check Point
Software Technologies Ltd., Cisco Systems Inc., Honeywell International Inc.,
Intel Corporation, International Business Machines Corporation, Microsoft
Corporation, Robert Bosch GmbH, Seico Inc., Sophos Ltd. and Trend Micro
Incorporated.
The report
has segmented the market on the basis of type, physical security offering,
information security offering, enterprise size and end user.
·
Physical
Security
·
CyberSecurity
Breakup by Physical
Security Offering:
·
System
o
Physical Access System
o
Video Surveillance System
o
Perimeter Intrusion and Detection
o
Physical Security Information Management
o
Others
·
Service
o
Remote Monitoring Services
o
Security Systems Integration Services
o
Others
Breakup by
Information Security Offering:
·
Solution
o
Identity and Access Management (IAM)
o
Intrusion Detection System/Intrusion Prevention System
(IDS/IPS)
o
Data Loss Prevention (DLP)
o
Disaster Recovery
o
Distributed Denial of Service (DDoS)
o
Antivirus/Antimalware
o
Encryption
o
Others
·
Service
o
Implementation and Integration Service
o
Consulting Service
o
Support and Maintenance Service
o
Support and Maintenance Service
Breakup by
Enterprise Size:
o
Large Enterprises
o
Small and Medium Enterprises
Breakup by End User
·
Banks
·
Insurance
Companies
·
Others
Breakup by
Region:
- North America: (United States,
Canada)
- Asia Pacific: (China, Japan,India,
South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United
Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico,
Others)
- Middle East and Africa
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latest primary and secondary data (2022-2027) with Cost Module, Business
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Key
highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success
Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the
Competitive Landscape
If you need
specific information that is not currently within the scope of the report, we
can provide it to you as a part of the customization.
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is a leading market research company that offers management strategy and market
research worldwide. We partner with clients in all sectors and regions to
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and high technology organizations. Market forecasts and industry analysis for
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company’s expertise.
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