Global BFSI Security Market: Global Markets That Will Grow at a CAGR of 10.32% by 2025
The Global BFSI Security Market was valued at USD 30.54 billion in 2016 and is projected to reach USD 73.92 billion by 2025, growing at a CAGR of 10.32% from 2017 to 2025.
(EMAILWIRE.COM, April 03, 2018 ) “Global BFSI Security Market By Type (Information Security, Physical Security), Vertical (Insurance, Banking, Financial Institutes), and Regional Market Size, Status and Forecast to 2025”.
The banking transactions that are executed from web based applications over the internet network have security risk of exposing user data to hackers. Apart from this, the banking, financial and insurance industry is continuously witnessing threat from global terrorism and cyber-crimes. Hence to tackle all these problems a solution called BFSI security system is introduced.
>> Click here to Download Sample PDF illustration: http://www.kminsights.com/request-sample-169679
Banking, Financial services and Insurance sector usually include insurance companies, commercial banks and cooperatives. Furthermore, it also includes non-banking financial companies, mutual funds and pension funds among others.
The growing demand for integrated security solutions is one of the major factors driving the global BFSI security market. Furthermore, growing preference for a common security platform which reduces the cost and complications of financial services is also contributing to the positive growth of BFSI security market. Moreover, increasing mobile data usage and growing digitization is also stimulating the demand for BFSI security at the global level. Stringent government regulations pertaining to data security along with increasing penetration of internet of things is also expected to have a positive impact on the BFSI security market. In addition, increasing number of cyber-attacks in BFSI sector in the last few years, the demand for security solutions and services has grown to protect confidential data in the BFSI sector. However lack of awareness about modern BFSI security systems across developing economies and the need for convergence of various security solutions are the major factors restraining the BFSI security market.
>> Click here to Download Sample PDF illustration:
<||>rnhttp://www.kminsights.com/reports/global-bfsi-security-market--by-type--information-security--physical-security---vertical--insurance--banking--financial-institutes---and-regional-market-size--status-and-forecast-to-2025-169679
Market Dynamics:
Market Drivers
1.1 Implementation of Security Solution based on IoT
1.2 Adoption of Regulatory Standards and Acts
1.3 High Risk of Data Loss
1.4 Increasing Adoption of Cloud-based Security Solutions
Market Restraints
2.1 High Implementation and Operational Costs
2.2 Interoperability Issues among Security Products
2.3 Lack of Awareness among Customers
Research Methodology:
Research study on the Global BFSI Security Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
About Us:
Key Market Insights is a stand-alone organization with a solid history of advancing and exchanging market research reports and logical surveys delivered by our numerous transnational accomplices, which incorporate both huge multinationals and littler, more Expert concerns.
Contact Us:
sales@kminsights.com
+1 (888) 278-7681
The banking transactions that are executed from web based applications over the internet network have security risk of exposing user data to hackers. Apart from this, the banking, financial and insurance industry is continuously witnessing threat from global terrorism and cyber-crimes. Hence to tackle all these problems a solution called BFSI security system is introduced.
>> Click here to Download Sample PDF illustration: http://www.kminsights.com/request-sample-169679
Banking, Financial services and Insurance sector usually include insurance companies, commercial banks and cooperatives. Furthermore, it also includes non-banking financial companies, mutual funds and pension funds among others.
The growing demand for integrated security solutions is one of the major factors driving the global BFSI security market. Furthermore, growing preference for a common security platform which reduces the cost and complications of financial services is also contributing to the positive growth of BFSI security market. Moreover, increasing mobile data usage and growing digitization is also stimulating the demand for BFSI security at the global level. Stringent government regulations pertaining to data security along with increasing penetration of internet of things is also expected to have a positive impact on the BFSI security market. In addition, increasing number of cyber-attacks in BFSI sector in the last few years, the demand for security solutions and services has grown to protect confidential data in the BFSI sector. However lack of awareness about modern BFSI security systems across developing economies and the need for convergence of various security solutions are the major factors restraining the BFSI security market.
>> Click here to Download Sample PDF illustration:
<||>rnhttp://www.kminsights.com/reports/global-bfsi-security-market--by-type--information-security--physical-security---vertical--insurance--banking--financial-institutes---and-regional-market-size--status-and-forecast-to-2025-169679
Market Dynamics:
Market Drivers
1.1 Implementation of Security Solution based on IoT
1.2 Adoption of Regulatory Standards and Acts
1.3 High Risk of Data Loss
1.4 Increasing Adoption of Cloud-based Security Solutions
Market Restraints
2.1 High Implementation and Operational Costs
2.2 Interoperability Issues among Security Products
2.3 Lack of Awareness among Customers
Research Methodology:
Research study on the Global BFSI Security Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
About Us:
Key Market Insights is a stand-alone organization with a solid history of advancing and exchanging market research reports and logical surveys delivered by our numerous transnational accomplices, which incorporate both huge multinationals and littler, more Expert concerns.
Contact Us:
sales@kminsights.com
+1 (888) 278-7681
Contact Information:
Key Market Insights
sambit kumar
Tel: 8007533694
Email us
----
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Key Market Insights
sambit kumar
Tel: 8007533694
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results