The BFSI security market is estimated to grow from USD 30.23 Billion in 2016 to USD 48.95 Billion by 2021, at a CAGR of 10.1% from 2016 to 2021.
Key drivers of this market include the implementation of regulatory security compliance, rising demand for cloud-based security solutions, and the increasing risk of cyber threats against BFSI infrastructure. This report analyzes opportunities in the BFSI security market for stakeholders. It also provides strategic profiles of the key players in the market to comprehensively analyze the core competencies and draw competitive landscape for the market.
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Objectives of the Study:
The main objective of this report is to define and measure the global banking, financial services, and insurance (BFSI) security market on the basis of security type, subvertical, and region. The report provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). It aims to strategically analyze subsegments with respect to individual growth trends, future prospects, and contribution to the total market. It also attempts to forecast the market size with respect to five main regions, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. It also tracks and analyzes competitive developments, such as mergers and acquisitions, new product developments, and research and development (R&D) activities in the market.
The research methodology used to estimate and forecast the BFSI security market began with capturing data on key vendors’ revenues through secondary research. This was done by referring to annual reports, press releases and investor presentations of companies, white papers, certified publications, articles from recognized associations, and government publishing sources. Insights obtained from key personnel of major players operational in the market were also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the market from the revenue of the key market players.
After arriving at the overall market size, the total market was split into several segments and subsegments. These were then verified through primary research by conducting extensive interviews with key people, such as CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from various companies and organizations providing BFSI security solutions and services. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments.
Key players operational in the BFSI security market include 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.) and Trend Micro Incorporated (U.S.). Other stakeholders of the market include application design and software developers, IT director/consultants, chief compliance officers, cloud service providers system integrators, universities, entertainment broadcasters, sports clubs, research & development centers, music industry, technology consultants, communication services providers, market research and consulting firms.
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- IT Service Providers and Distributors
- Cyber Security Vendors
- BFSI Security Vendors
- Value Added Resellers
- Government Bodies and Departments
- Cloud Service Providers
- System Integrators
- Technology Consultants
“This study answers several questions for the stakeholders, primarily which market segments to focus in the next two to five years for prioritizing efforts and investments”.
Scope of the Report
The research report categorizes the BFSI security market to forecast the revenues and analyze the trends in each of the following subsegments:
- Information Security
- Physical Security
By Physical Security
- System & Components
By Information Security
- System & Components
- Other Financial Institutions
- North America
- Middle East & Africa
- Latin America
- With the given market data, Publisher offers customizations as per the company’s specific needs. The following customization options are available for the report:
- Product matrix, which gives a detailed comparison of product portfolio of each company
- Further breakdown of the North America BFSI Security market
- Further breakdown of the Europe market
- Further breakdown of the APAC market
- Further breakdown of the MEA market
- Further breakdown of the Latin America market
- Detailed analysis and profiling of additional market players
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