Market Overview:
The global cloud security in banking market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth of this market can be attributed to the increasing adoption of cloud-based services by banks and other financial institutions for various applications such as customer relationship management (CRM), enterprise resource planning (ERP), and others. In addition, the growing concerns over data privacy and security are also fueling the demand for cloud security solutions in banking sector. The global cloud security in banking market is segmented on the basis of type, application, and region. On the basis of type, it is divided into Cloud Identity and Access Management Software (IAM), Cloud Email Security Software, Cloud Encryption Software, Others. On the basis of application, it is classified into Bank Sector, Financial Institution Sector Others). Region wise; it covers North America,, Latin America,, Europe,, Asia Pacific,, Middle East & Africa).
Product Definition:
Cloud security in banking is the protection of bank data and systems hosted on or accessed through a cloud computing platform. The importance of cloud security in banking is to protect customer data, protect the bank's infrastructure, and meet compliance regulations.
Cloud Identity and Access Management Software:
Cloud Identity and Access Management (CIAM) is a software technology that helps in managing user identity and access to cloud services. It also helps enterprises in improving security management on the cloud. CIAM offers various benefits such as easy implementation, scalability, flexibility, reduced costs of ownership among others which has led to its increased popularity among organizations for implementing security on the cloud.
Cloud Email Security Software:
Cloud email security software is a solution that helps in securing emails in cloud. It uses multiple layers of encryption to protect sensitive data from hackers and cyber criminals. The software also offers protection against malicious attacks by screening outbound messages for known patterns, which it then blocks to prevent any unwanted deliveries.
Application Insights:
The banking application segment led the market in 2017 and is projected to maintain its dominance over the forecast period. The growth can be attributed to factors such as regulatory support for cloud computing, technological advancements in banking sector, and need for cost-efficient solutions among others. Cloud security helps banks improve their IT infrastructure by reducing operational costs while enhancing service quality. These advantages are estimated to drive demand from the banking sector over the forecast period.
Financial institutions are also expected to witness significant growth owing to increasing adoption of cloud services across various applications such as accounting & billing, risk management systems, compliance management systems and others which include human capital management system and financial information Management & Analysis (FIM&A). The FIM&A department handles sensitive data that needs protection; hence it is crucial for financial institutions adopt a secure infrastructure with robust security measures while moving towards the digital transformation journey. This trend is anticipated to drive demand from various sectors including BFSI during future years.
Regional Analysis:
North America dominated the global market in 2017, with a revenue share of over 35.0%. The growth is attributed to the presence of major players such as IBM Corporation; Trend Micro, Inc.; and CA Technologies. These companies are actively collaborating with financial institutions to offer robust solutions for security management. Moreover, increasing cyberattacks against enterprises have led them to increase their spending on cloud security products and services.
Asia Pacific is expected to emerge as the fastest-growing regional market from 2018 to 2030 owing high growth potential in emerging economies such as China and India. Rapid technological advancements coupled with increased adoption of cloud-based technologies are some factors driving regional growth over the forecast period. Furthermore, increasing investments by governments across countries such as China and Japan for developing smart cities are likely contributors toward industry expansion over next eight years (2018 - 2027).
Growth Factors:
- Increased awareness of cloud security risks by banking organizations
- The need for enhanced security to protect against ever-growing cyber threats
- The growing trend of cloud adoption by banking organizations
- The increasing demand for compliance and regulatory requirements
- The need for cost-effective and scalable security solutions
Scope Of The Report
Report Attributes
Report Details
Report Title
Cloud Security in Banking Market Research Report
By Type
Cloud Identity and Access Management Software, Cloud Email Security Software, Cloud Encryption Software, Others
By Application
Bank, Financial Institution, Others
By Companies
Salesforce, Thales, Boxcryptor, Trend Micro, Sophos, Wave Systems, Microsoft, Temenos, nCino, Google
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
221
Number of Tables & Figures
155
Customization Available
Yes, the report can be customized as per your need.
Global Cloud Security in Banking Market Report Segments:
The global Cloud Security in Banking market is segmented on the basis of:
Types
Cloud Identity and Access Management Software, Cloud Email Security Software, Cloud Encryption Software, Others
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
Bank, Financial Institution, Others
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:
- Salesforce
- Thales
- Boxcryptor
- Trend Micro
- Sophos
- Wave Systems
- Microsoft
- Temenos
- nCino
- Google
Highlights of The Cloud Security in Banking 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:
- Cloud Identity and Access Management Software
- Cloud Email Security Software
- Cloud Encryption Software
- Others
- By Application:
- Bank
- Financial Institution
- Others
- 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 Cloud Security in Banking 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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- Correctly Positioning New Products
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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?
Cloud security in banking refers to the protection of data and systems against cyberattacks. Banks use a variety of technologies, including firewalls, intrusion detection and prevention systems (IDS/IPS), and cloud-based applications security services (CAS) to protect their data from unauthorized access.
Some of the major players in the cloud security in banking market are Salesforce, Thales, Boxcryptor, Trend Micro, Sophos, Wave Systems, Microsoft, Temenos, nCino, Google.
The cloud security in banking market is expected to grow at a compound annual growth rate of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cloud Security in Banking Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Cloud Security in Banking Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cloud Security in Banking Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Cloud Security in Banking Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Cloud Security in Banking Market Size & Forecast, 2018-2028
4.5.1 Cloud Security in Banking Market Size and Y-o-Y Growth
4.5.2 Cloud Security in Banking Market Absolute $ Opportunity
Chapter 5 Global Cloud Security in Banking Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Cloud Security in Banking Market Size Forecast by Type
5.2.1 Cloud Identity and Access Management Software
5.2.2 Cloud Email Security Software
5.2.3 Cloud Encryption Software
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Cloud Security in Banking Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Cloud Security in Banking Market Size Forecast by Applications
6.2.1 Bank
6.2.2 Financial Institution
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Cloud Security in Banking Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Cloud Security in Banking Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Cloud Security in Banking Analysis and Forecast
9.1 Introduction
9.2 North America Cloud Security in Banking Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Cloud Security in Banking Market Size Forecast by Type
9.6.1 Cloud Identity and Access Management Software
9.6.2 Cloud Email Security Software
9.6.3 Cloud Encryption Software
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Cloud Security in Banking Market Size Forecast by Applications
9.10.1 Bank
9.10.2 Financial Institution
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Cloud Security in Banking Analysis and Forecast
10.1 Introduction
10.2 Europe Cloud Security in Banking Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Cloud Security in Banking Market Size Forecast by Type
10.6.1 Cloud Identity and Access Management Software
10.6.2 Cloud Email Security Software
10.6.3 Cloud Encryption Software
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Cloud Security in Banking Market Size Forecast by Applications
10.10.1 Bank
10.10.2 Financial Institution
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Cloud Security in Banking Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Cloud Security in Banking Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Cloud Security in Banking Market Size Forecast by Type
11.6.1 Cloud Identity and Access Management Software
11.6.2 Cloud Email Security Software
11.6.3 Cloud Encryption Software
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Cloud Security in Banking Market Size Forecast by Applications
11.10.1 Bank
11.10.2 Financial Institution
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Cloud Security in Banking Analysis and Forecast
12.1 Introduction
12.2 Latin America Cloud Security in Banking Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Cloud Security in Banking Market Size Forecast by Type
12.6.1 Cloud Identity and Access Management Software
12.6.2 Cloud Email Security Software
12.6.3 Cloud Encryption Software
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Cloud Security in Banking Market Size Forecast by Applications
12.10.1 Bank
12.10.2 Financial Institution
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Cloud Security in Banking Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Cloud Security in Banking Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Cloud Security in Banking Market Size Forecast by Type
13.6.1 Cloud Identity and Access Management Software
13.6.2 Cloud Email Security Software
13.6.3 Cloud Encryption Software
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Cloud Security in Banking Market Size Forecast by Applications
13.10.1 Bank
13.10.2 Financial Institution
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Cloud Security in Banking Market: Competitive Dashboard
14.2 Global Cloud Security in Banking Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Salesforce
14.3.2 Thales
14.3.3 Boxcryptor
14.3.4 Trend Micro
14.3.5 Sophos
14.3.6 Wave Systems
14.3.7 Microsoft
14.3.8 Temenos
14.3.9 nCino
14.3.10 Google
