BFSI Security is the most important concern for every developing nation and as a result, this market has been valued at US ~$29 billion in the year 2015. Increasing security proliferation and need of more secure system to protect the confidential data are some of the major factor which is expected to drive the market of BFSI Security in the upcoming time.
World economy is growing rapidly so does the flow of money in the financial system. As the new technologies are coming into picture to make the process simpler and easier, hackers are founding new ways to extract the confidential data’s and uses it for wrong purposes. This is the main factor which brings the concept of cyber security to the world. As BFSI sector deals with the money and financial instruments, hackers are trying very hard to extract the information and use if for their own purposes.
Global BFSI Security Market is growing with CAGR of ~14% and expected to reach market size of 71 billion by the end of forecasted period.
Major Key Players:
- Cisco Systems, Inc. (U.S.)
- Honeywell International, Inc. (U.S.)
- McAfee, Inc. (U.S.)
- Symantec Corporation (U.S.)
- IBM Corporation (U.S.)
- Dell EMC (U.S.)
- Axis Communications (Sweden)
- Bosch Security Systems (Germany)
- Booz Allen Hamilton Inc. (U.S.)
- Hewlett Packard Enterprise (U.S.)
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Study Objectives of BFSI Security Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Global BFSI Security Market
- To provide insights about factors affecting the market growth
- To analyze the BFSI Security market based on various factors- supply chain analysis, porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segment by Type, By Verticals and sub-segments.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global BFSI Security Market.
- Banking Institutions
- Security Agencies
- Security Service Providers
- Software Developers
- Camera and other Security System manufacturers
The Global BFSI Security market has been segmented on the basis of type and verticals. Type includes- Physical Security and Virtual Security.
Physical Security Includes- Video Surveillance, Intrusion among others whereas Virtual Security deals with Encryption, Firewall, IDS/IPS among others. The Verticals of BFSI Security are- Banking, Insurance Companies among others.
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North America has been the target for the cyber-attacks since the beginning and this is the main reason which makes the North America, a leader in the BFSI Security Market. Presence of global players in U.S. Give North America a competitive advantage.
Europe holds second position in the market closely followed by Asia-Pacific. Countries such as Japan, China, Singapore and UAE are fastest growing and also becoming easy target for cyber-attacks, resulting more demand for the security system. Asia-Pacific has also emerged as fastest growing market for BFSI Security.
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure:
1.3.1 Global Bfsi Security Market: By Type
1.3.2 Global Bfsi Security Market: By Verticals
List of Tables
Table 1 Global Bfsi Security Market, By Type
Table 2 Global Bfsi Security Market, By Verticals
Table 3 Global Bfsi Security Market, By Regions
List of Figures
Figure 1 Research Type
Figure 2 Global Bfsi Security Market: By Type (%)
Figure 3 Global Bfsi Security Market: By Verticals (%)
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