BFSI Security Market To Witness Astonishing Growth – 2027 | Key Players: Physical Security Vendors, Hangzhou Hikvision Digital Technology Co.,Ltd., Honeywell International, Inc.

The BFSI Security Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the BFSI Security market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the BFSI Security market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the BFSI Security market.

The BFSI Security market was valued at USD 35.3 billion in 2020 and is expected to reach USD 66.02 billion by 2026, at a CAGR of 11% over the forecast period (2021 - 2026). 

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Top Leading Companies of BFSI Security Market are - Physical Security Vendors, Hangzhou Hikvision Digital Technology Co.,Ltd., Honeywell International, Inc., Bosch Sicherheitssysteme GmbH (Bosch Security), Johnson Controls International plc (Tyco International), Genetec Inc., Cisco Systems Inc., Seico Inc., Information Security Vendors, IBM Corporation, Broadcom Inc. (Symantec Corporation), Microsoft Corporation, Check Point Software Technologies Ltd., McAfee LLC, RSA Security LLC (Dell Technologies), Imperva Inc., Fortinet inc., Cisco System inc. and others.

Industry News and Updates:

- Apr 2018 - Consolidated Communications Holdings Inc. launched its Distributed Denial of Service Mitigation solution. The solution offers customers robust reporting and analytics, and a view of traffic trends and potential threats, with the network intelligence to take corrective action before any organization’s infrastructure is impacted.

- Nov 2017 - LifeLock, a Symantec company, launched an identity protection product called LifeLock Senior to help adult children protect their senior parents from identity theft. LifeLock Senior allows the senior member and their child the ability to receive identity threat alerts, from financial to criminal.

Key Market Trends:

Rise in Cyber Data Breaches

- The BFSI sector is one of the critical infrastructure segments that suffers several data breaches and cyberattacks, owing to the large customer base that the industry serves and the financial information that is at stake. The financial service institutions have been identified to be four times more susceptible to cyberattacks, as compared to other industries, which is expected to drive the demand for such solutions.
- In 2017, Equifax, one of the three largest credit agencies in the United States, experienced a breach of over 140 million accounts, and over 209,000 credit card related data being stolen.

North America is Expected to Hold Major Share

- North America, particularly the United States, is one of the largest markets for BFSI security owing to the region majorly depending on digital payments. The region is expected to witness healthy growth as well due to multiple government initiatives in the country demanding the need for better security solutions.
- Due to the country's high dependence on online payments and recovering banking infrastructure from the financial crisis of 2007-2008, the banks in this region witnessed a high number of data breach attempts.
- The United States witnessed a total of 1,579 data breaches in 2017, of which 8% of data breaches were accounted for by Banking institutes. Although this number is small, the amount of sensitive data available in the banking industry is very high making it a prime target for hackers, especially banks using SWIFT architecture.

Investigator Observers Strong Growth in Specific Regions:

– Europe Market (Germany, UK, France, Russia, Italy)

– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)

– South America Market (Brazil, Argentina, Colombia)

– North America Market (United States, Canada, Mexico)

– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).

The Latest Industry Data Included in this Report:
- BFSI Security Market Size & Analysis (2016 - 2026)
- Market Share Analysis of BFSI Security Market (%),2016 - 2026
- BFSI Security Market Share, By Brand
- BFSI Security Market Share, By Company
- BFSI Security Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies BFSI Security Market Value Analysis & Forecast
- Promising BFSI Security Development by Major Companies
- Detailed BFSI Security Portfolio of the Major Companies
- Major Deals in the BFSI Security Market
- Major Companies Analysis

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