BFSI Security Market Analysis, Segments, Key Players, Drivers and Trends by Forecast to 2022

BFSI Security Market Scenario:
Banking, financial services and insurance (BFSI) security is an urgent need in the expanding world economy. The latest report provided by Market Research Future (MRFR) is expected to suggest that the global BFSI security market is expected to garner a market revenue valuation of USD 71 billion during the forecast period. The global BFSI security market is likely to mark a CAGR of 14% during the forecast period of 2016-2022. BFSI serves as the foundation for many financial exchanges that take place in diverse sectors and is an integral part of the national infrastructure systems. Therefore, there is a need for maximum security against all possible online and offline theft.
Various online banking platforms are an effective way of processing banking transactions in a remote location. Web-based applications are a medium for such transactions, which also led to higher risk of client data exposure to unsolicited internet users, including hackers. Due to this factor, the demand for BFSI Security Market is continuously surgjng.
Many BFSI institutions are expected to use cloud services which is putting them at a risk of being exposed. The risk of data theft is known to make an installation of BFSI security imperatives. Protection of information from the hackers is one of the largest concerns in the BFSI industry and is primarily driving the global BFSI security market.
Major Key Players:
Some noteworthy players in the global BFSI security market include  Global players, such as 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.), and Hewlett Packard Enterprise (U.S.).
Market Segmentation
The gloal BFSI security market has been analyzed for various segments that are based on type, vertical and region.
Based on type, the global BFSI security market is segmented into physical security and virtual security. The physical security segment is studied for the sub-segments of video surveillance, access control, physical security information management, intrusion and fire detection, and system integration. Physical BFSI security is also estimated to hold the most significant share within the forecast period. The virtual security segment is further segmented into IDS/IPS, firewall, encryption, data loss protection, and web filtering.
Based on vertical, the global BFSI security market is segmented into banking and insurance companies. The insurance segment is estimated to exhibit the fastest CAGR over the forecast period, owing to the rising transformation in deregulation, terror attacks, and globalization.
Detailed Regional Analysis:
The global BFSI Security market is segmented into the regions of North America, Europe, Asia Pacific, and Rest-of-the-World (RoW). North America was at the fore of the BFSI security market at the beginning of the forecast period. This domination is also expected to continue over the forecast period.
North America is riddled by several cyber-attacks and hence as a counter mechanism, these market verticals have decided upon the deployment of advanced and extensive security measures. The presence of global players within the US are estimated to give North America a competitive edge over other regional markets.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312

Comments

Post a Comment

Popular posts from this blog

3D Metrology Market 2016: Company Profiles, Market Segments, Landscape and Demand by Forecast to 2022

Market Scenario: The changing consumer demand for industrial products and the growing technological advancement in measurement techniques have developed the need for more precise and accurate industrial products. To provide products with assured quality and longer durability, automotive, aerospace, packaging, electronics and mechanical engineering industries are implementing 3D Metrology solutions. 3D Metrology is an emerging measurement solution among various industries, as it enables manufacturers to monitor the quality and efficiency of the components required to build the desired industrial products. These measuring systems are used for a wide range of measurement tasks, namely analyzing the surface, shape and dimension of the machine parts and tools at every stage of the manufacturing process. The major growth driver of 3D Metrology Market includes growing quality requirement in industrial product, and increasing use of technically advanced devices for measurement, amo...
Read more

Customer Experience Management Market – Challenges, Key Vendors, Drivers and by Forecast to 2023

Image
Customer Experience Management Market Highlights: The Customer experience management is widely adopted by sectors such Communication Services, BFSI and Consumer goods and Retail markets.  According to a recent study report published by the Market Research Future, The global market of Customer experience management is projected to grow at a rapid pace during the forecast period   (2017 – 2023).  The Market is forecasted to demonstrate a spectacular growth by 2023, the global Customer experience management market is projected to garner approximately USD 18 billion by the end of 2023 with 22% CAGR during forecast period 2017-2023. The factors contributing to the growth of the Customer Experience Management Market are the growing need to meet consumer satisfaction, increasing e-commerce, competitive environment and growing focus towards consumer oriented market. However, choosing the right technology and consistency across various verticals are hindering the growth ...
Read more

Voice Assistant Market Analysis, Segments, Size, Key Players, Drivers and Trends by Forecast to 2023

Market Highlights: Voice assistants are software programs that respond to voice commands in order to perform a range of tasks. They can find an opening in a consumer’s calendar to schedule an appointment, place an online order for tangible goods, and act as a hands-free facilitator for texting, among many, many other tasks. Major factors driving the growth of voice assistant market are increased instances of voice searches and higher penetration of broadband and internet connections. Increase in adoption of smart homes is another factor driving the growth of voice assistant market. Speech recognition and voice recognition technologies are being used in devices implemented in smart homes. Voice Assistant Market has been segmented on the basis of technology, application and end user. The application segment is further bifurcated into messenger bots, websites and contact centers. The websites segment is expected to dominate the application segment market and will generate hig...
Read more