Global Banking Cyber Security Market to Reach 585.32 Billion by 2029, Growing at 12.9% CAGR

What Is the Expected Size and Growth Rate of the Banking Cyber Security Market?
The banking cybersecurity market has grown rapidly, projected to expand from $317.98 billion in 2024 to $359.88 billion in 2025, at a CAGR of 13.2%. Growth has been fueled by increasing risk management initiatives, the sophistication of cyber threats, digital transformation, mobile banking security enhancements, and advancements in cloud security.

The banking cybersecurity market is set to grow rapidly, reaching $585.32 billion by 2029 with a CAGR of 12.9%. Growth is driven by the rise in quantum computing threats, extended AI usage, enhanced biometric authentication, supply chain cybersecurity, and decentralized finance (DeFi). Key trends include deep learning for threat detection, addressing 5G security challenges, zero-day threat protection, cybersecurity for digital currencies, intelligent security orchestration, and collaborative threat intelligence sharing.

What Factors Are Fueling Growth in the Banking Cyber Security Market?
The rise of mobile banking is expected to significantly drive the growth of the banking cybersecurity market. As more consumers use mobile devices like smartphones and tablets to perform banking activities, protecting sensitive financial data from cyber threats becomes increasingly crucial. A 2023 survey by the American Bankers Association found that 48% of bank customers primarily used mobile apps for managing their accounts, indicating a strong shift toward mobile banking. As mobile banking continues to rise, so does the need for robust cybersecurity measures, propelling market growth.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14270&type=smp

Which Leading Companies Are Shaping the Growth of the Banking Cyber Security Market?
Major companies operating in the banking cyber security market are Microsoft Corporation, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Honeywell International Inc., Hewlett Packard Enterprise Systems, Palo Alto Network Solutions Inc., Fortinet Security Solutions LLC, Splunk Data Solutions LLC, Check Point Software Technologies, CrowdStrike Cybersecurity Inc., McAfee Cybersecurity LLC, Trend Micro Security Inc., Proofpoint Inc., FireEye Inc., Rapid7 Inc., CyberArk Software Ltd., Varonis Systems Inc., Symantec Technologies Inc., EMC RSA Cybersecurity LLC, Sophos Cybersecurity Solutions Inc., Netsparker Technologies Inc., KnowBe4 Security Training Inc., Carbon Black Inc., Computer Science Corporation LLC

What Are the Major Trends Shaping the Banking Cyber Security Market?
In the banking cybersecurity market, companies are focused on creating advanced platforms like the extended detection and response (XDR) system to enhance security measures. XDR integrates multiple security products to offer a unified view of potential threats. In April 2023, US-based Cisco Systems launched a new XDR solution that uses machine learning to detect and prioritize attacks, improving overall cybersecurity efficiency.

What Are the Key Segments of the Banking Cyber Security Market?
The banking cyber security market covered in this report is segmented -

1) By Type: Cloud Security, Network Security, Web Security, End Point Security, Application Security, Other Types
2) By Deployment Type: Cloud, On-premises
3) By Organization Size: Small And Medium Enterprise, Large Enterprise
4) By Application: Public Bank, Private Bank

Subsegments:
1) By Cloud Security: Data Loss Prevention (DLP), Identity And Access Management (IAM), Cloud Security Posture Management (CSPM), Cloud Encryption
2) By Network Security: Firewalls, Intrusion Detection And Prevention Systems (IDPS), Virtual Private Networks (VPNs), Unified Threat Management (UTM)
3) By Web Security: Web Application Firewalls (WAF), Secure Web Gateways (SWG), DNS Security, Anti-Malware Solutions
4) By End Point Security: Antivirus And Anti-Malware, Endpoint Detection And Response (EDR), Mobile Device Management (MDM), Data Encryption Solutions
5) By Application Security: Application Security Testing (AST), Runtime Application Self-Protection (RASP), Software Composition Analysis (SCA), Secure Development Lifecycle (SDL) Tools
6) By Other Types: Security Information And Event Management (SIEM), Risk And Compliance Management, Identity Theft Protection, Fraud Detection And Prevention Solutions

Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/banking-cyber-security-global-market-report

Which Region Dominates the Banking Cyber Security Market?
North America was the largest region in the banking cyber security market in 2024. The regions covered in the banking cyber security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Banking Cyber Security Global Market Report?

- Market Size Analysis: Analyze the Banking Cyber Security Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Banking Cyber Security Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Banking Cyber Security Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Banking Cyber Security Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14270

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.