Banking Cyber Security Market Size, In-depth Analysis Report and Global Forecast to 2029

1.9.2023: Banking Cyber Security Market Valued at US$ 242.88 Billion in 2022, Estimated to Grow at a CAGR of 12.5%

Report Scope and Methodology:

Report Scope:

This report provides an in-depth analysis of the Banking Cyber Security market's values, scope, research methodology, drivers, restraints, and regional insights.

Research Methodology:

Our research methodology is robust, encompassing data collection, analysis, and interpretation to provide valuable insights into the Banking Cyber Security Market. A sample report is available upon request for a detailed understanding of our research approach.

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What are Banking Cyber Security Market Dynamics?

In an era of digital transformation, cyber security in banking plays a critical role in safeguarding user assets. The escalating prevalence of cybercrimes in the financial sector, driven by hackers' technological advancements, presents significant growth opportunities for the market. The ongoing digitization of the banking sector further reinforces market growth prospects.

However, the market also faces challenges stemming from the substantial growth of fraud and identity theft, with a substantial increase in reported fraud cases in the banking sector in 2021. Additionally, a considerable portion of mobile banking transactions conducted on personal devices poses hurdles for market growth.

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Banking Cyber Security Market Segmentation?

by Deployment
Cloud
On-premises

Deployment: The market is segmented into Cloud and On-premises, with the Cloud segment expected to grow at a CAGR of nearly 13.15% during the forecast period due to cost-effectiveness and time efficiency.

by Component
Segment
Solution

Component: Segmented into Solution and Segment, the Solution segment holds the largest market share, driven by the increasing adoption of security across various industries.

Who are Banking Cyber Security Market Key Players?
1. Symantec Corporation
2. Intel Security
3. IBM Corporation
4. Hewlett Packard Enterprise
5. Rapid7, Inc.
6. Cisco Systems, Inc.
7. FireEye, Inc.
8. EMC RSA
9. Sophos Ltd.
10. Trend Micro, Inc
11. Palo Alto Network
12. Microsoft
13. Sophos
14. Splunk
15. Netsparker
16. CrowdStrike
17. Fortinet
18. KnowBe4
19. McAfee LLC
20. Honeywell International Inc.
21. Computer Science Corporation (CSC)

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Regional Insights:

North America: This region dominates the market, driven by a strong focus on technological innovation and R&D.

Asia Pacific: Significant growth is anticipated in this region, primarily due to the rising adoption of web and mobile-based business applications.

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