iCrowd Newswire
14 Jan 2022, 22:32 GMT+10
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.
Report Metric
Historical: 2016-2021
Base Year: 2021
Forecast Year: 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.
BFSI Security Industry 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 region, type, physical security offering, information security offering, enterprise size and end user.
Breakup by Type:
Breakup by Physical Security Offering:
Breakup by Information Security Offering:
Breakup by Enterprise Size:
Breakup by End User
Breakup by Region:
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Key highlights of the report:
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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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Tags: BFSI Security Market Size, BFSI Security Market, BFSI Security Market Report, BFSI Security Industry, BFSI Security Market Share, BFSI Security
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