Global BFSI Security Market was valued US$ xx Bn in 2019 and the total revenue is expected to grow at CAGR of 10.1 % from 2019 to 2027, reaching US$ xx Bn.
Global BFSI Security Market
This is a comprehensive global report targeted on present and future prospects of the Global BFSI Security Market. The report presents a consolidation of primary and secondary analysis that provides market size, share, dynamics and forecast for numerous segments and sub-segments considering the environment factors. The report also covers an in-depth analysis of COVID 19 pandemic impact on the sales revenue of Global BFSI Security Market by year-wise and region and on the key players revenue affected and expected short term and long-term impact on the market.
Global BFSI Security Market Overview:
Banking and financial organization work in a highly regulated atmosphere. Security concerns arise in a variety of situations because of noncompliance with different requirements. When this occurs, the results are serious. The protection of the BFSI is therefore urgently required to ensure the long-term visibility of banking and financial organizations and their records. Cyber security and physical security of banking and financial institutions are included in BFSI security. With the growing adoption of ATMs and online banking solutions, internal and external threats are still present in the BFSI market. Thus, the need for physical asset security and the constant tracking of the BFSI sector’s banking data are driving global growth.
Global BFSI Security Market – Dynamics
Rise in adoption of cloud based security solutions is increasing the growth of the BFSI security market. However the demand for security solutions and services has grown to protect confidential data due to the rising number of cyber attacks in BFSI sector. Stringent government regulations to data security with increasing add on IoT to security solutions also have a positive impact on the BFSI security market. The growing demand for integrated security solutions is major factor driving the BFSI market.
Lack of awareness about security aspects in the BFSI sector and the need for various security solutions are the factors hampering the growth of the market. Complexity in security infrastructure and high implementation cost of security solutions are restraining the market growth.
Based on Physical Security, the service segment has led the Global BFSI Security market in 2019 and is estimated to generate more than US$ xx Bn market revenue by 2027 with a CAGR of xx%. It plays a vital role to enhance the earlier video surveillance system by integrating digital video surveillance with network and IT systems. The Systems and components segment is expected to account the largest market share during the forecasting period.
Global BFSI Security Market regional overview
Geographically, the Global BFSI Security Market has been segmented into North America, South America, Asia Pacific, and the Middle East and Africa. North America and Europe have a market share of xx% in 2019 and is expected to reach US$ xx Bn by the end of 2027 with a CAGR of xx%. North America and Europe are the fast adopters of BFSI security technology market and expected to follow the same trend throughout the forecast period. However APAC is the fastest growing market for BFSI security.
The objective of the report is to present a comprehensive analysis of the Global BFSI Security Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global BFSI Security Market dynamics, structure by analyzing the market segments and project of the Global BFSI Security Market size. Clear representation of competitive analysis of key players By Type, Price, Financial position, Product portfolio, Growth strategies, and Regional Presence in the Global BFSI Security Market make the report investor’s guide.
Scope of Global BFSI Security Market
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Global BFSI Security Market, By Type
• Information Security
• Physical Security
Global BFSI Security Market, By Physical Security
• System & Components
Global BFSI Security Market, By Information Security
• System & Components
Global BFSI Security Market, By End User
• Other Financial Institutions
Global BFSI Security Market, By Region
• North America
• MEA & Africa
• Latin America
Global BFSI Security Market Key Players
• Cisco Systems, Inc. (U.S.)
• Computer Sciences Corporation (CSC) (U.S.)
• EMC Corporation (U.S.)
• Honeywell International, Inc. (U.S.)
• IBM Corporation (U.S.)
• Booz Allen Hamilton, Inc. (U.S.)
• McAfee, Inc. (Intel Security Group) (U.S.)
• Sophos Group Plc. (U.S.)
• Symantec Corporation (U.S.)
• Trend Micro Incorporated (U.S.)
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