BFSI Security Market

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2022
BFSI Security Market Opportunities, Companies and
Trends in Coming Years
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The increasing digitization of banking and
financial operations all over the world is
pushing up the demand for banking, financial
services, and insurance security solutions. This
is because the rising adoption of personalized
and digital banking is augmenting the threat of
data breaches and cyber-attacks. Moreover, with
banking operations moving to cloud networks and
adopting digital technologies, the threat of data
theft, including breach of sensitive and
confidential information, is rising
rapidly. Because of these risks, banks and other
financial organizations are increasingly adopting
advanced security solutions. For example,
InvestBank P.S.C. adopted a security solution
developed by Cisco Systems Inc. in May 2018 for
supporting its digital transformation strategy.
The security solution included Ciscos advanced
malware protection (AMP) for end points, for the
detection and prevention of advanced threats.
Banks are also adopting the internet of things
(IoT) for enhancing the security of their
operations.
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This technology assists in the identification of
the devices and systems used for transmitting
vulnerabilities, tracking of the location of
financial crimes, and remote monitoring of
surveillance devices for the early detection of
various fraudulent activities. Besides this
technology, financial institutions are also
adopting smart security solutions for detecting
potential cyber-attacks, assessing risks,
automating operations, and centralizing
management systems. In many countries,
intelligent security solutions are quickly
becoming popular among the organizations
operating in the BFSI industry. The growing
deployment of such security solutions by banks
and other financial organizations is positively
impacting the growth of the global banking,
financial services, and insurance (BFSI) security
market. Due to this reason, the market is
predicted to witness a massive surge in its
valuation, from 31.3 billion to 175.1 billion,
from 2019 to 2030. Furthermore, the market is
predicted to advance at a CAGR of 16.9 between
2020 and 2030. Request to Get the Sample
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Depending on security type, the BFSI security
market is divided into information security and
physical security categories. Between the two,
the information security category is predicted to
exhibit higher growth rate in the market in the
future years. The category is further divided
into data loss prevention, antivirus, unified
threat management, encryption, risk and
compliance management, and identity and access
management categories. Amongst these, the
encryption category recorded the highest growth
in the market in the past. Globally, the BFSI
security market would exhibit lucrative growth in
Europe and North America in the upcoming years,
as per the forecast of PS Intelligence, a market
research company based in India. This is credited
to the implementation of strict data policies
aimed at enhancing data security in these
regions. Additionally, the growing focus of
financial organizations on digitization and the
rising popularity of cloud-based data storage
solutions will further propel the market growth
in these regions in the future. Hence, it can be
said with full surety that the adoption of
security solutions by BFSI organizations will
rise enormously all over the world in the coming
years, mainly because of the rising digitization
in this domain and the growing prevalence of data
breaches and cyber-attacks in banking and
financial operations. Browse more
report Security as a Service Market Top
Companies, Investment Trend, Growth Innovation
Trends by 2030
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• Market Segmentation by Security Type
• Physical Security
• Video surveillance
• Access control
• Intrusion and fire detection
• Physical security information management (PSIM)
• Others (asset protection, security scanning, and
  imaging metal detection)
• Information Security
• Antivirus
• Encryption
• Unified threat management
• Risk and compliance management
• Data loss prevention
• Identity and access management
• Others (firewall appliances and web filtering)

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• Market Segmentation by Service
• System Integration
• Risk Assessment
• Consulting
• Training
• Market Segmentation by End User
• Banks
• Insurance Companies
• Others (Asset Management Companies, Venture
  Capital Firms, Fintech Companies, and Other
  Financial Institutions)
• Market Segmentation by Region
• North America BFSI Security Market
• By security type
• By service
• By end user
• By country U.S. and Canada

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• Europe BFSI Security Market
• U.K., France, Germany, Russia, Switzerland, and
  Rest of Europe
• Asia-Pacific (APAC) BFSI Security Market
• China, Japan, India, Australia, South Korea,
  Singapore, New Zealand, and Rest of APAC
• Latin America (LATAM) BFSI Security Market
• Brazil, Mexico, Argentina, and Rest of LATAM
• Middle East Africa (MEA) BFSI Security Market
• South Africa, Saudi Arabia, U.A.E., and Rest of
  MEA

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• This study covers
• Historical and the present size of the BFSI
  Security Market
• 2. Historical and the present size of the
  market segments and understand their comparative
  future potential
• 3. Potential of on-demand logistics services,
  so the market players make informed decisions on
  the sales of their offerings
• 4. Competitive scenario of various market
  segments across key countries in several regions
  for uncovering market opportunities for the
  stakeholders
• 5. Major players operating in the market and
  their service offerings

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data provided in its market research
publications. However, the information in
publications is subject to fluctuations, as it is
based on primary interviews of officials from
various companies or organizations. PS
Intelligence is not responsible for any incorrect
data provided by the key industry players of the
concerned domain. the information or analysis in
PS Intelligence publications represents opinions
based on research and should not be interpreted
as statements of fact. Information in this report
was believed to be correct at the time of
publication, but cannot be guaranteed. PS
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