MARKET INTRODUCTION
BFSI sector (Banking, Financial Services, and Insurance) generally comprises of commercial banks, insurance companies, cooperatives, non-banking financial companies, pension funds, mutual funds, and other smaller financial entities. Both physical as information security is vital for any BFSI organizations as they operated in a highly regulated environment and includes risks such as physical risks related to robbery or information risks such as cyber-crime.
MARKET DYNAMICS
The rise in the number of cybercrimes in the banking sector has resulted in an increased number of data breaches, which has resulted in loss of commercial banking details, personally identifiable information, confidential corporate information, and personal banking details, among others. Thus, there is an increased need to protect sensitive data of BFSI organizations. The factor mentioned above is propelling the growth of the BFSI security market. Furthermore, increasing crime rates related to bank robberies and the need for physical security in the bank premises is bolstering the growth of the BFSI security market.
MARKET SCOPE
The "Global BFSI Security Market Analysis to 2028" is a specialized and in-depth study of the BFSI security industry with a special focus on the global market trend analysis. The report aims to provide an overview of BFSI security market with detailed market segmentation by type and geography. The global BFSI security market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading BFSI security market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global BFSI Security market is segmented on the basis of type into physical and information security. The physical security segment of BFSI security market is further sub-segmented into video surveillance, access control, intrusion and fire detection, physical security information management (PSIM), maintenance and support services, design and consulting services, and system integration services. Also, the information security segment of BFSI security market is sub-categorized into risk & compliance management, Identity & Access Management, encryption, unified threat management (UTM), disaster recovery, firewall, data loss protection, web filtering, and Other Solutions, consulting services, design & integration services, and other services.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global BFSI security market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). The BFSI security market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the BFSI security market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and SAM after evaluating political, economic, social and technological factors affecting the BFSI security market in these regions.
MARKET PLAYERS
The reports cover key developments in the BFSI security market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from BFSI security market are anticipated to lucrative growth opportunities in the future with the rising demand for BFSI security in the global market. Below mentioned is the list of few companies engaged in the BFSI security market.
The report also includes the profiles of key BFSI security companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Booz Allen Hamilton Holding Corporation
- Broadcom
- Cisco Systems, Inc.
- Dell EMC
- DXC Technology
- Honeywell International, Inc.
- IBM Corporation
- Mcafee, Inc. (Intel Security Group)
- Sophos Group PLC.
- Trend Micro Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.