BFSI Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

BFSI Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A4968
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Market Overview:

The global BFSI security market size reached US$ 49.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 89.1 Billion by 2027, exhibiting a growth rate (CAGR) of 10.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Banking, financial services and insurance (BFSI) security refers to the adoption of security services and solutions by financial organizations to prevent monetary frauds and mitigate the risk of security breaches. Antivirus, access control, encryption, firewall, video surveillance, identity and access management, risk and compliance management and intrusion and fire detection are some commonly used types of security services and solutions. BFSI security provides a reliable, secure and cost-effective platform that provides protection against continuous threats of cybersecurity breaches. It also secures various functions, such as accepting cash deposits, granting loans, advances, overdrafts, credits and discounting of bills.

 

 
 

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BFSI Security Market Trends:

Significant growth in the BFSI industry across the globe is one of the key factors creating a positive outlook for the market. Due to the increasing risk of cyber threats, BFSI security is widely adopted to enable secure and convenient financial transactions by installing surveillance cameras, security scanners, firewalls, biometric authentication and anti-malware protection solutions. Additionally, the widespread adoption of encryption software to prevent unauthorized access and protect sensitive customer data and financial transactions is favoring the market growth. Moreover, various technological advancements, such as the integration of the connected devices with the Internet of Things (IoT), machine learning (ML) and artificial intelligence (AI) solutions, are favoring the market growth. These technologies aid in monitoring transactions, tracking the location of the financial crime, mitigating risks, detecting frauds and managing regulatory compliances. In line with this, rising concerns regarding the security of data, such as confidential corporate information and personal and commercial banking details, is positively impacting the market growth. Other factors, including, rapid digitalization, along with the rising number of cyber-attacks, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global BFSI security market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, physical security offering, information security offering, enterprise size and end user.

Breakup by Type:

 

 
 

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  • Physical Security
  • Cyber Security
     

Breakup by Physical Security Offering:

  • System
  • Service
    • Remote Monitoring Services
    • Security Systems Integration Services
    • Others
       

Breakup by Information Security Offering:

  • Solution
    • Identity and Access Management (IAM)
    • Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
    • Data Loss Prevention (DLP)
    • Disaster Recovery
    • Distributed Denial of Service (DDoS)
    • Antivirus/Antimalware
    • Encryption
    • Others
  • Service
    • Implementation and Integration Service
    • Consulting Service
    • Support and Maintenance Service
       

Breakup by Enterprise Size:

  • Large Enterprises
  • Small and Medium Enterprises
     

Breakup by End User

  • Banks
  • Insurance Companies
  • Others
     

Breakup by Region:

 

 
 

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  • 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
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
 Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Physical Security Offering, Information Security Offering, Enterprise Size, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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BFSI Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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