Global BFSI Security market expected to drive due to the rises in data breaches in the financial services industry and growing adoption of cloud-based security solutions
The global BFSI security market size generated USD 46.58 Billion in 2019 and projected to reach USD 75.86 Billion by 2027, registering a CAGR of 5.95%, during the forecast period, 2020-2027. The primary factors are the implementation of regulatory standards and acts and growing cyber threats in the BFSI industry. Additionally, the increasing penetration of the internet in developing regions, coupled with the growing adoption of connected devices that enable convenient and secure financial transactions are estimated to fuel the growth of global BFSI security in the upcoming years. Moreover, the surge in increased data theft and unauthorized access in banking and financial institutions will demand BFSI security in the near future. Also, the increasing demand for integrated security solutions in BFSI would influence the growth of the market in the forthcoming periods,
Furthermore, the surge in the number of cyber-attacks in the BFSI sector, along with the increasing demand for security solutions and services, has grown to protect confidential data in the BFSI sector are projected to trigger the global BFSI security industry. The growing applications of BFSI to helps safeguard networks, prevent unauthorized access by hackers, and reduce the risk of potential malware would impact the robust growth of the global BFSI Security over the forecast span. In addition, the emergence of customized solutions, biometrics, and cybersecurity solutions based on the internet of things will accelerate the growth of the market. Additionally, the shifting of people toward digital transformation and adoption of online banking, will lead to the chances for data breaches, are likely to augment the global BFSI Security market across the globe.
Type Overview in the Global BFSI Security Market
Based on type, the global BFSI security market bifurcates into information security and physical security. The physical security segment likely to lead the market by 2027, owing to the growing applications of physical security in the era of IP-based video surveillance, physical security information management (PSIM), and biometrics across the world.
Physical Security Overview in the Global BFSI Security market
Based on physical security, the global BFSI security market segregated into Software (Video surveillance, Access control, Intrusion and fire detection, Physical Security Information Management (PSIM)), and Services (Consulting & training services, Integration & maintenance services, and Managed security services). The video surveillance segment witnessed the largest market share in 2019 and will dominate by 2027. It is owing to the video surveillance use to maintain cash management, monitor customers and staff activities, and provide the physical infrastructure of banking institutions.
Services will grow with excellent CAGR in the forecast span due to its help in enhancing the existing video surveillance system by integrating digital video surveillance with network and IT systems.
Information Security Overview in the Global BFSI Security Market
Based on information security, the global BFSI Security market bifurcated into Software (IAM, Encryption, Disaster Recovery, Unified Threat Management, Firewall, Security and Vulnerability Management, Encryption, Data Loss Protection, Antivirus & Antimalware) and Services (Consulting & training services, Integration & maintenance services and Managed security services). The Encryption segment projected to lead the market by 2027. It is attributable to its help in preventing access to sensitive data to any unauthorized users.
End-Use Overview in the Global BFSI Security Market
Based on end-use, the global BFSI Security market categorized into Banking, Insurance Companies, and Others. The Banking segment estimated to capture the largest CAGR by 2027 in the market. It is owing to the rise in the use of advanced security solutions in banks for retaining and maximizing the potential of existing customers by safeguarding their data.
Regional Overview in the Global BFSI Security Market
By geography, the Global BFSI Security Market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America held a higher market share in 2019 and will continue its dominance by 2027. It is attributable to the large population in these regions, which are highly dependent on online payments along with the growing demand for preventing banking and financial sector from cyber threats.
Global BFSI Security Market: Competitive Landscape
Companies such as Cisco Systems, Inc., Computer Sciences Corporation (CSC), EMC Corporation, Honeywell International, Inc., IBM Corporation, Booz Allen Hamilton, Inc, McAfee, Inc. (Intel Security Group), Sophos Group Plc., Symantec Corporation, DXC Technology Company, Axis Communications, Dell EMC, Bosch Security Systems and Trend Micro Incorporated, are the key players in the Global BFSI Security Market.
Global BFSI Security Market Report Content 1. Research Strategic Development 1.1. Market Modelling 1.2. Product Analysis 1.3. Market Trend and Economic Factors Analysis 1.4. Market Segmental Analysis 1.5. Geographical Mapping 1.6. Country Wise Segregation 2. Research Methodology 2.1. Identification of Target Market 2.2. Data Acquisition 2.3. Refining of Data/ Data Transformations 2.4. Data Validation through Primary Techniques 2.5. Exploratory Data Analysis 2.6. Graphical Techniques/Analysis 2.7. Quantitative Techniques/Analysis 2.8. Visual Result/Presentation 3. Executive Summary 4. Market Insights 4.1. Economic Factor Analysis 4.1.1. Drivers 4.1.2. Trends 4.1.3. Opportunities 4.1.4. Challenges 4.2. Technological Landscape 4.3. Competitors & Product Analysis 4.4. Regulatory Framework 4.5. Company market share analysis, 2019 4.6. Porter's Five forces analysis 4.7. New Investment Analysis 4.8. PESTEL Analysis 5. Global BFSI Security Market Overview 5.1. Market Size & Forecast, 2016-2027 5.1.1. Demand 5.1.1.1. By Value (USD Million) 5.2. Market Share & Forecast, 2016-2027 5.2.1. By Type 5.2.1.1. Information Security 5.2.1.2. Physical Security 5.2.2. By Physical Security 5.2.2.1. Software 5.2.2.1.1. Video surveillance 5.2.2.1.2. Access control 5.2.2.1.3. Intrusion and fire detection 5.2.2.1.4. Physical Security Information Management (PSIM)) 5.2.2.2. Services 5.2.2.2.1. Consulting & training services 5.2.2.2.2. Integration & maintenance services 5.2.2.2.3. Managed security services 5.2.3. By Information Security 5.2.3.1. Software 5.2.3.1.1. IAM 5.2.3.1.2. Encryption 5.2.3.1.3. Disaster Recovery 5.2.3.1.4. Unified Threat Management 5.2.3.1.5. Firewall 5.2.3.1.6. Security and Vulnerability Management 5.2.3.1.7. Data Loss Protection 5.2.3.1.8. Antivirus & Antimalware 5.2.3.2. Services 5.2.3.2.1. Consulting & training services 5.2.3.2.2. Integration & maintenance services 5.2.3.2.3. Managed security services 5.2.4. By End-Use 5.2.4.1. Banking 5.2.4.2. Insurance Companies 5.2.4.3. Others 5.2.5. By Region 5.2.5.1. North America 5.2.5.2. Europe 5.2.5.3. Asia Pacific 5.2.5.4. South America 5.2.5.5. Middle East & Africa 6. North America BFSI Security Market Overview 6.1. North America BFSI Security Market Size & Forecast, 2016-2027 6.1.1. Demand 6.1.1.1. By Value (USD Million) 6.2. North America BFSI Security Market Share & Forecast, 2016-2027 6.2.1. By Type 6.2.1.1. Information Security 6.2.1.2. Physical Security 6.2.2. By Physical Security 6.2.2.1. Software 6.2.2.1.1. Video surveillance 6.2.2.1.2. Access control 6.2.2.1.3. Intrusion and fire detection 6.2.2.1.4. Physical Security Information Management (PSIM)) 6.2.2.2. Services 6.2.2.2.1. Consulting & training services 6.2.2.2.2. Integration & maintenance services 6.2.2.2.3. Managed security services 6.2.3. By Information Security 6.2.3.1. Software 6.2.3.1.1. IAM 6.2.3.1.2. Encryption 6.2.3.1.3. Disaster Recovery 6.2.3.1.4. Unified Threat Management 6.2.3.1.5. Firewall 6.2.3.1.6. Security and Vulnerability Management 6.2.3.1.7. Data Loss Protection 6.2.3.1.8. Antivirus & Antimalware 6.2.3.2. Services 6.2.3.2.1. Consulting & training services 6.2.3.2.2. Integration & maintenance services 6.2.3.2.3. Managed security services 6.2.4. By End-Use 6.2.4.1. Banking 6.2.4.2. Insurance Companies 6.2.4.3. Others 6.2.5. By Country 6.2.5.1. US 6.2.5.2. Canada 6.2.5.3. Mexico 6.2.6. Company Market Share (Top 3-5) 6.2.7. Economic Impact Study on North America BFSI Security Market 7. Europe BFSI Security Market Overview 7.1. Europe BFSI Security Market Size & Forecast, 2016-2027 7.1.1. Demand 7.1.1.1. By Value (USD Million) 7.2. Europe BFSI Security Market Share & Forecast, 2016-2027 7.2.1. By Type 7.2.1.1. Information Security 7.2.1.2. Physical Security 7.2.2. By Physical Security 7.2.2.1. Software 7.2.2.1.1. Video surveillance 7.2.2.1.2. Access control 7.2.2.1.3. Intrusion and fire detection 7.2.2.1.4. Physical Security Information Management (PSIM)) 7.2.2.2. Services 7.2.2.2.1. Consulting & training services 7.2.2.2.2. Integration & maintenance services 7.2.2.2.3. Managed security services 7.2.3. By Information Security 7.2.3.1. Software 7.2.3.1.1. IAM 7.2.3.1.2. Encryption 7.2.3.1.3. Disaster Recovery 7.2.3.1.4. Unified Threat Management 7.2.3.1.5. Firewall 7.2.3.1.6. Security and Vulnerability Management 7.2.3.1.7. Data Loss Protection 7.2.3.1.8. Antivirus & Antimalware 7.2.3.2. Services 7.2.3.2.1. Consulting & training services 7.2.3.2.2. Integration & maintenance services 7.2.3.2.3. Managed security services 7.2.4. By End-Use 7.2.4.1. Banking 7.2.4.2. Insurance Companies 7.2.4.3. Others 7.2.5. By Country 7.2.5.1. Germany 7.2.5.2. UK 7.2.5.3. France 7.2.5.4. Italy 7.2.5.5. Rest of Europe 7.2.6. Company Market Share (Top 3-5) 7.2.7. Economic Impact Study on Europe BFSI Security Market 8. Asia Pacific BFSI Security Market Overview 8.1. Asia Pacific BFSI Security Market Size & Forecast, 2016-2027 8.1.1. Demand 8.1.1.1. By Value (USD Million) 8.2. Asia Pacific BFSI Security Market Share & Forecast, 2016-2027 8.2.1. By Type 8.2.1.1. Information Security 8.2.1.2. Physical Security 8.2.2. By Physical Security 8.2.2.1. Software 8.2.2.1.1. Video surveillance 8.2.2.1.2. Access control 8.2.2.1.3. Intrusion and fire detection 8.2.2.1.4. Physical Security Information Management (PSIM)) 8.2.2.2. Services 8.2.2.2.1. Consulting & training services 8.2.2.2.2. Integration & maintenance services 8.2.2.2.3. Managed security services 8.2.3. By Information Security 8.2.3.1. Software 8.2.3.1.1. IAM 8.2.3.1.2. Encryption 8.2.3.1.3. Disaster Recovery 8.2.3.1.4. Unified Threat Management 8.2.3.1.5. Firewall 8.2.3.1.6. Security and Vulnerability Management 8.2.3.1.7. Data Loss Protection 8.2.3.1.8. Antivirus & Antimalware 8.2.3.2. Services 8.2.3.2.1. Consulting & training services 8.2.3.2.2. Integration & maintenance services 8.2.3.2.3. Managed security services 8.2.4. By End-Use 8.2.4.1. Banking 8.2.4.2. Insurance Companies 8.2.4.3. Others 8.2.5. By Country 8.2.5.1. China 8.2.5.2. India 8.2.5.3. Japan 8.2.5.4. Australia 8.2.5.5. Rest of Asia Pacific 8.2.6. Company Market Share (Top 3-5) 8.2.7. Economic Impact Study on Asia Pacific BFSI Security Market 9. South America BFSI Security Market Overview 9.1. South America BFSI Security Market Size & Forecast, 2016-2027 9.1.1. Demand 9.1.1.1. By Value (USD Million) 9.2. South America BFSI Security Market Share & Forecast, 2016-2027 9.2.1. By Type 9.2.1.1. Information Security 9.2.1.2. Physical Security 9.2.2. By Physical Security 9.2.2.1. Software 9.2.2.1.1. Video surveillance 9.2.2.1.2. Access control 9.2.2.1.3. Intrusion and fire detection 9.2.2.1.4. Physical Security Information Management (PSIM)) 9.2.2.2. Services 9.2.2.2.1. Consulting & training services 9.2.2.2.2. Integration & maintenance services 9.2.2.2.3. Managed security services 9.2.3. By Information Security 9.2.3.1. Software 9.2.3.1.1. IAM 9.2.3.1.2. Encryption 9.2.3.1.3. Disaster Recovery 9.2.3.1.4. Unified Threat Management 9.2.3.1.5. Firewall 9.2.3.1.6. Security and Vulnerability Management 9.2.3.1.7. Data Loss Protection 9.2.3.1.8. Antivirus & Antimalware 9.2.3.2. Services 9.2.3.2.1. Consulting & training services 9.2.3.2.2. Integration & maintenance services 9.2.3.2.3. Managed security services 9.2.4. By End-Use 9.2.4.1. Banking 9.2.4.2. Insurance Companies 9.2.4.3. Others 9.2.5. By Country 9.2.5.1. Brazil 9.2.5.2. Argentina 9.2.5.3. Rest of South America 9.2.6. Company Market Share (Top 3-5) 9.2.7. Economic Impact Study on South America BFSI Security Market 10. Middle East & Africa BFSI Security Market Overview 10.1. Middle East & Africa BFSI Security Market Size & Forecast, 2016-2027 10.1.1. Demand 10.1.1.1. By Value (USD Million) 10.2. Middle East & Africa BFSI Security Market Share & Forecast, 2016-2027 10.2.1. By Type 10.2.1.1. Information Security 10.2.1.2. Physical Security 10.2.2. By Physical Security 10.2.2.1. Software 10.2.2.1.1. Video surveillance 10.2.2.1.2. Access control 10.2.2.1.3. Intrusion and fire detection 10.2.2.1.4. Physical Security Information Management (PSIM)) 10.2.2.2. Services 10.2.2.2.1. Consulting & training services 10.2.2.2.2. Integration & maintenance services 10.2.2.2.3. Managed security services 10.2.3. By Information Security 10.2.3.1. Software 10.2.3.1.1. IAM 10.2.3.1.2. Encryption 10.2.3.1.3. Disaster Recovery 10.2.3.1.4. Unified Threat Management 10.2.3.1.5. Firewall 10.2.3.1.6. Security and Vulnerability Management 10.2.3.1.7. Data Loss Protection 10.2.3.1.8. Antivirus & Antimalware 10.2.3.2. Services 10.2.3.2.1. Consulting & training services 10.2.3.2.2. Integration & maintenance services 10.2.3.2.3. Managed security services 10.2.4. By End-Use 10.2.4.1. Banking 10.2.4.2. Insurance Companies 10.2.4.3. Others 10.2.5. By Country 10.2.5.1. Saudi Arabia 10.2.5.2. UAE 10.2.5.3. South Africa 10.2.5.4. Rest of Middle East & Africa 10.2.6. Company Market Share (Top 3-5) 10.2.7. Economic Impact Study on Middle East & Africa BFSI Security Market 11. Competitor Analysis 11.1. Company Description 11.2. Financial Analysis 11.3. Key Products 11.4. Key Management Personnel 11.5. Contact Address 11.6. SWOT Analysis 11.7. Company Profile 11.7.1. Cisco Systems, Inc. 11.7.2. Computer Sciences Corporation (CSC) 11.7.3. EMC Corporation 11.7.4. Honeywell International, Inc. 11.7.5. IBM Corporation 11.7.6. Booz Allen Hamilton, Inc 11.7.7. McAfee, Inc. (Intel Security Group) 11.7.8. Sophos Group Plc. 11.7.9. Symantec Corporation 11.7.10. DXC Technology Company 11.7.11. Axis Communications 11.7.12. Dell EMC 11.7.13. Bosch Security Systems 11.7.14. Trend Micro Incorporated 11.7.15. Other Prominent Players
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