Market Overview:
The global BFSI security market is expected to grow from USD 9.02 billion in 2018 to USD 17.01 billion by 2030, at a CAGR of 8.8% from 2018 to 2030. The growth of the global BFSI security market can be attributed to the increasing incidence of cyber-attacks and data breaches, growing adoption of cloud-based services, and rising demand for integrated security solutions. The identity and access management segment is expected to hold the largest share of the global BFSI security market in 2018. The increasing adoption of cloud-based services across industries is fueling the growth of this segment. The banking application segment is expected to hold the largest share of the global BFSI security market in 2018.
Product Definition:
BFSI stands for Banking, Financial Services, and Insurance. BFSI security is the security of systems that process or store sensitive information from these industries. The importance of BFSI security is that if these systems are compromised, the attacker could gain access to sensitive information such as account numbers, passwords, and social security numbers. This could lead to identity theft or financial fraud.
Identity and Access Management:
IDAM is short for identity and access management. IDAM is a set of policies and processes that are designed to protect an organization's digital assets from internal as well as external threats. It also helps in providing user account management, role-based authorization, compliance reporting, and access control services within an enterprise network.
Video Monitoring:
Video monitoring is a live feed of what's going on in a particular area. It can be used in banks, offices, homes or any other place to ensure safety and security. Video monitoring systems are gaining popularity as they offer cost-effective solutions for home and office security. These systems can also be easily installed by the untrained person which makes them an ideal solution for people with limited technical knowledge.
Application Insights:
The banking, financial services and insurance sector held the largest market share in 2017. The segment is anticipated to continue leading over the forecast period owing to its core functions of facilitating money transactions and offering various other services such as loans, investments, payments & transfers. The growth of this industry is largely dependent on the stability of economic policies followed by country governments. In addition, it also depends upon a number of external factors such as inflation rates and exchange rates across different countries which may or may not affect consumer spending patterns.
Regional Analysis:
North America dominated the global market in 2017. The growth of the region can be attributed to stringent regulations by governments and regulatory bodies, such as Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC) for maintaining security of customer data. Moreover, increasing cyberattacks are driving organizations to adopt BFSI security solutions to safeguard their IT infrastructure from hackers. These factors are expected to drive regional demand over the forecast period.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rising adoption of cloud-based services by small & medium enterprises in countries such as China and India that lack adequate government regulations regarding data protection standards compared with developed economies such as U.S., Canada, Germany, UK among others). Furthermore, growing penetration of mobile banking applications supported by smartphones is further expected fuel regional demand during the forecast period (2018 - 2030).
Growth Factors:
- Increasing demand for cyber security solutions from small and medium businesses (SMBs)
- Proliferation of cloud-based services and BYOD policies in the BFSI sector
- Growing concerns over data privacy and information security among customers
- Stringent government regulations and compliance requirements for data security
- Rising investments by enterprises in innovative security solutions
Scope Of The Report
Report Attributes
Report Details
Report Title
BFSI Security Market Research Report
By Type
Identity and Access Management, Video Monitoring, Encryption and Firewall, Safety Information Management, Unified Threat Management, Data Loss Protection, Risk and Compliance Management, Intrusion Detection, Other, BFSI Securit
By Application
Banking, Financial Services, Insurance
By Companies
Honeywell International, Bosch Security, Cisco Systems, IBM Corporation, Microsoft Corporation, Johnson Controls International(Tyco International), Genetec, Seico, Information Security Vendors, Symantec Corporation, Check Point Software Technologies, McAfee (Intel Security Group), RSA Security(Dell Technologies), Imperva, Fortinet, Computer Sciences Corporation, EMC Corporation, Booz Allen Hamilton, Sophos Group, Trend Micro, Hikvision Digital Technology, Dahua Technology, BFSI Securit
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global BFSI Security Market Report Segments:
The global BFSI Security market is segmented on the basis of:
Types
Identity and Access Management, Video Monitoring, Encryption and Firewall, Safety Information Management, Unified Threat Management, Data Loss Protection, Risk and Compliance Management, Intrusion Detection, Other, BFSI Securit
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Banking, Financial Services, Insurance
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Honeywell International
- Bosch Security
- Cisco Systems
- IBM Corporation
- Microsoft Corporation
- Johnson Controls International(Tyco International)
- Genetec
- Seico
- Information Security Vendors
- Symantec Corporation
- Check Point Software Technologies
- McAfee (Intel Security Group)
- RSA Security(Dell Technologies)
- Imperva
- Fortinet
- Computer Sciences Corporation
- EMC Corporation
- Booz Allen Hamilton
- Sophos Group
- Trend Micro
- Hikvision Digital Technology
- Dahua Technology
- BFSI Securit
Highlights of The BFSI Security Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Identity and Access Management
- Video Monitoring
- Encryption and Firewall
- Safety Information Management
- Unified Threat Management
- Data Loss Protection
- Risk and Compliance Management
- Intrusion Detection
- Other
- BFSI Securit
- By Application:
- Banking
- Financial Services
- Insurance
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the BFSI Security Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
BFSI Security is a term used to describe the various security measures that are in place for banks and other financial institutions. These measures may include things like firewalls, intrusion detection systems (IDS), and secure communications protocols.
Some of the key players operating in the bfsi security market are Honeywell International, Bosch Security, Cisco Systems, IBM Corporation, Microsoft Corporation, Johnson Controls International(Tyco International), Genetec, Seico, Information Security Vendors, Symantec Corporation, Check Point Software Technologies, McAfee (Intel Security Group), RSA Security(Dell Technologies), Imperva, Fortinet, Computer Sciences Corporation, EMC Corporation, Booz Allen Hamilton, Sophos Group, Trend Micro, Hikvision Digital Technology, Dahua Technology, BFSI Securit.
The bfsi security market is expected to register a CAGR of 8.8%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. BFSI Security Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. BFSI Security Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. BFSI Security Market - Supply Chain
4.5. Global BFSI Security Market Forecast
4.5.1. BFSI Security Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. BFSI Security Market Size (000 Units) and Y-o-Y Growth
4.5.3. BFSI Security Market Absolute $ Opportunity
5. Global BFSI Security Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. BFSI Security Market Size and Volume Forecast by Type
5.3.1. Identity and Access Management
5.3.2. Video Monitoring
5.3.3. Encryption and Firewall
5.3.4. Safety Information Management
5.3.5. Unified Threat Management
5.3.6. Data Loss Protection
5.3.7. Risk and Compliance Management
5.3.8. Intrusion Detection
5.3.9. Other
5.3.10. BFSI Securit
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global BFSI Security Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. BFSI Security Market Size and Volume Forecast by Application
6.3.1. Banking
6.3.2. Financial Services
6.3.3. Insurance
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global BFSI Security Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. BFSI Security Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global BFSI Security Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. BFSI Security Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global BFSI Security Demand Share Forecast, 2019-2026
9. North America BFSI Security Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America BFSI Security Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America BFSI Security Market Size and Volume Forecast by Application
9.4.1. Banking
9.4.2. Financial Services
9.4.3. Insurance
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America BFSI Security Market Size and Volume Forecast by Type
9.7.1. Identity and Access Management
9.7.2. Video Monitoring
9.7.3. Encryption and Firewall
9.7.4. Safety Information Management
9.7.5. Unified Threat Management
9.7.6. Data Loss Protection
9.7.7. Risk and Compliance Management
9.7.8. Intrusion Detection
9.7.9. Other
9.7.10. BFSI Securit
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America BFSI Security Demand Share Forecast, 2019-2026
10. Latin America BFSI Security Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America BFSI Security Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America BFSI Security Market Size and Volume Forecast by Application
10.4.1. Banking
10.4.2. Financial Services
10.4.3. Insurance
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America BFSI Security Market Size and Volume Forecast by Type
10.7.1. Identity and Access Management
10.7.2. Video Monitoring
10.7.3. Encryption and Firewall
10.7.4. Safety Information Management
10.7.5. Unified Threat Management
10.7.6. Data Loss Protection
10.7.7. Risk and Compliance Management
10.7.8. Intrusion Detection
10.7.9. Other
10.7.10. BFSI Securit
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America BFSI Security Demand Share Forecast, 2019-2026
11. Europe BFSI Security Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe BFSI Security Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe BFSI Security Market Size and Volume Forecast by Application
11.4.1. Banking
11.4.2. Financial Services
11.4.3. Insurance
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe BFSI Security Market Size and Volume Forecast by Type
11.7.1. Identity and Access Management
11.7.2. Video Monitoring
11.7.3. Encryption and Firewall
11.7.4. Safety Information Management
11.7.5. Unified Threat Management
11.7.6. Data Loss Protection
11.7.7. Risk and Compliance Management
11.7.8. Intrusion Detection
11.7.9. Other
11.7.10. BFSI Securit
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe BFSI Security Demand Share, 2019-2026
12. Asia Pacific BFSI Security Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific BFSI Security Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific BFSI Security Market Size and Volume Forecast by Application
12.4.1. Banking
12.4.2. Financial Services
12.4.3. Insurance
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific BFSI Security Market Size and Volume Forecast by Type
12.7.1. Identity and Access Management
12.7.2. Video Monitoring
12.7.3. Encryption and Firewall
12.7.4. Safety Information Management
12.7.5. Unified Threat Management
12.7.6. Data Loss Protection
12.7.7. Risk and Compliance Management
12.7.8. Intrusion Detection
12.7.9. Other
12.7.10. BFSI Securit
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific BFSI Security Demand Share, 2019-2026
13. Middle East & Africa BFSI Security Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa BFSI Security Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa BFSI Security Market Size and Volume Forecast by Application
13.4.1. Banking
13.4.2. Financial Services
13.4.3. Insurance
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa BFSI Security Market Size and Volume Forecast by Type
13.7.1. Identity and Access Management
13.7.2. Video Monitoring
13.7.3. Encryption and Firewall
13.7.4. Safety Information Management
13.7.5. Unified Threat Management
13.7.6. Data Loss Protection
13.7.7. Risk and Compliance Management
13.7.8. Intrusion Detection
13.7.9. Other
13.7.10. BFSI Securit
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa BFSI Security Demand Share, 2019-2026
14. Competition Landscape
14.1. Global BFSI Security Market: Market Share Analysis
14.2. BFSI Security Distributors and Customers
14.3. BFSI Security Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Honeywell International
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Bosch Security
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Cisco Systems
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. IBM Corporation
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Microsoft Corporation
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Johnson Controls International(Tyco International)
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Genetec
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Seico
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Information Security Vendors
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Symantec Corporation
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Check Point Software Technologies
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. McAfee (Intel Security Group)
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. RSA Security(Dell Technologies)
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Imperva
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Fortinet
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Computer Sciences Corporation
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. EMC Corporation
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Booz Allen Hamilton
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Sophos Group
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Trend Micro
