Global Security Services For BFSI Sector Market Growth Accelerates: Strategic Forecast Predicts $126.58 Billion by 2029

Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

What Will the Security Services For BFSI Sector Industry Market Size Be by 2025?
In recent times, the market size for security services in the BFSI sector has experienced significant expansion. It's predicted to rise from $65.66 billion in 2024 to $71.71 billion in 2025, at a compound annual growth rate (CAGR) of 9.2%. The substantial growth over the historical period can be traced back to escalating cybersecurity threats within the BFSI sector, rules for regulatory compliance, and data protection needs, increased digital transformation in the banking and financial sector, the critical nature of financial transactions, and the imperative for fraud detection and avoiding fraudulent financial transactions.

What's the Long-Term Growth Forecast for the Security Services For BFSI Sector Market Size Through 2029?
The market size of security services for the BFSI sector is anticipated to experience significant growth in the ensuing years. It is expected to surge to $126.58 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 15.3%. The growth during the forecast period can be linked to the use of advanced threat intelligence in BFSI security, implementation of artificial intelligence and machine learning, focus on cloud security in BFSI operations, enhancement in endpoint security solutions, and an increased emphasis on insider threat detection. Key trends during the projection period include the utilization of biometric authentication for heightened security, ongoing monitoring and incident response, the application of blockchain for secure financial exchanges, cooperative threat intelligence distribution in the BFSI sector, and focus on zero trust security models in BFSI security services.

View the full report here:
https://www.thebusinessresearchcompany.com/report/security-services-for-bsfi-sector-global-market-report

What Are the Key Growth Drivers Fueling the Security Services For BFSI Sector Market Expansion?
An increase in cyber data incursions is projected to advance the expansion of the security services market in the BFSI sector. Identifying and accessing unauthorized entry into computer systems or networks to retrieve confidential, private, or sensitive personal and financial data from customers or users are the main traits of cyber data breaches. An escalation of cyber-attacks was recorded in the BFSI sector, with proficient hackers executing intentional thefts, breaches, invasions, and data pilferages, along with malware and phishing strikes, leading to substantial financial losses. Owing to the regularity of such intentional breaches in the BFSI industry, it has become essential to implement cybersecurity measures to prevent data violations, using endpoint detection and response (EDR), biometric technology, cloud security, code scrutiny, and integrated system security analysis. For example, the Australian Cyber Security Centre, an Australia-based cyber security agency, revealed that the number of cybercrime reports in 2022 was 76,000, marking a 13% increase from the past year in February 2023. Hence, an increase in cyber data incursions is expected to boost the requirement for security services in the BFSI sector market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7687&type=smp

What Are the Key Trends Driving Security Services For BFSI Sector Market Growth?
The current trend gaining traction in the BFSI sector's security services market is technological innovation. Key players in this market are channeling their resources into the creation of technologically superior security services and solutions to consolidate their market presence. For example, in November 2023, Tata Consultancy Services, an India-based IT firm, introduced its Cyber Insights Platform. This groundbreaking solution is designed to consolidate security datasets from a range of environments including public and private clouds as well as on-premise systems, paving the way for boosted cybersecurity and compliance for clients. Through the utilization of AI and Amazon Security Lake, the platform presents the ability for proactive anomaly identification and risk assessment. It comes with unique features such as the Financial Crime Fusion Center that employs generative AI to generate insights pertaining to financial threats. The platform is intended to design a robust cybersecurity structure that can respond effectively to the dynamic threat environment.

How Is the Security Services For BFSI Sector Market Segmented?
The security services for bfsi sectormarket covered in this report is segmented -

1) By Type: Physical Security, Cyber Security
2) By Services: Managed Services, Professional Services, System Integration, Support And Maintenance, Consulting
3) By Information Security: System, Service
4) By Enterprise Size: Large Enterprises, Small and Medium Enterprises (SMEs)
5) By End Users: Banks, Insurance Companies, Other End Users

Subsegments:
1) By Physical Security: Access Control Systems, Surveillance Systems (CCTV), Perimeter Security, Security Personnel Services, Fire And Safety Systems
2) By Cyber Security: Network Security, Endpoint Security, Identity And Access Management (IAM), Data Protection And Encryption, Security Information And Event Management (SIEM)

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=7687&type=smp

Which Companies Are Leading the Charge in Security Services For BFSI Sector Market Innovation?
Major companies operating in the security services for bfsi sector market include Booz Allen Hamilton, Cisco Systems, EMC Corporation, Symantec Corporation, IBM Corporation, Trend Micro Incorporated, Honeywell International, Sophos Group, Dell Inc., McAfee Security, Bosch Security Systems, Axis Communications, Microsoft Corporation, Seico Inc., Check Point Software Technologies Ltd., accenture*, Wipro Limited, HCL Technologies Limited, Tata Consultancy Services Limited, Infosys Limited, Capgemini SE, Cognizant Technology Solutions Corporation, DXC Technology Company, Atos SE, NTT Data Corporation, Fujitsu Limited, Verizon Communications Inc., SecureWorks Inc., Trustwave Holdings Inc.

Which Regions Are Leading the Global Security Services For BFSI Sector Market in Revenue?
North America was the largest region in the security services for BFSI sector market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the security services for BFSI sector market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7687

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

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
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@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.