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BFSI Security Market Report by Type, Physical Security Offering, Information Security Offering, Enterprise Size, End User, and Region 2024-2032

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    Report

  • 136 Pages
  • September 2024
  • Region: Global
  • IMARC Group
  • ID: 5911866
Description Jump to:
The global BFSI security market size reached US$ 60.5 Billion in 2023. Looking forward, the market is expected to reach US$ 131.4 Billion by 2032, exhibiting a growth rate (CAGR) of 9.0% during 2023-2032.

Banking, financial services and insurance (BFSI) security refers to the adoption of security services and solutions by financial organizations to prevent monetary frauds and mitigate the risk of security breaches. Antivirus, access control, encryption, firewall, video surveillance, identity and access management, risk and compliance management and intrusion and fire detection are some commonly used types of security services and solutions. BFSI security provides a reliable, secure and cost-effective platform that provides protection against continuous threats of cybersecurity breaches. It also secures various functions, such as accepting cash deposits, granting loans, advances, overdrafts, credits and discounting of bills.

BFSI Security Market Trends:

Significant growth in the BFSI industry across the globe is one of the key factors creating a positive outlook for the market. Due to the increasing risk of cyber threats, BFSI security is widely adopted to enable secure and convenient financial transactions by installing surveillance cameras, security scanners, firewalls, biometric authentication and anti-malware protection solutions. Additionally, the widespread adoption of encryption software to prevent unauthorized access and protect sensitive customer data and financial transactions is favoring the market growth.

Moreover, various technological advancements, such as the integration of the connected devices with the Internet of Things (IoT), machine learning (ML) and artificial intelligence (AI) solutions, are favoring the market growth. These technologies aid in monitoring transactions, tracking the location of the financial crime, mitigating risks, detecting frauds and managing regulatory compliances. In line with this, rising concerns regarding the security of data, such as confidential corporate information and personal and commercial banking details, is positively impacting the market growth. Other factors, including, rapid digitalization, along with the rising number of cyber-attacks, are anticipated to drive the market toward growth.

Key Market Segmentation:

This report provides an analysis of the key trends in each sub-segment of the global BFSI security market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type, physical security offering, information security offering, enterprise size and end user.

Breakup by Type:

  • Physical Security
  • Cyber Security

Breakup by Physical Security Offering:

  • System
  • Physical Access System
  • Video Surveillance System
  • Perimeter Intrusion and Detection
  • Physical Security Information Management
  • Others
  • Service
  • Remote Monitoring Services
  • Security Systems Integration Services
  • Others

Breakup by Information Security Offering:

  • Solution
  • Identity and Access Management (IAM)
  • Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
  • Data Loss Prevention (DLP)
  • Disaster Recovery
  • Distributed Denial of Service (DDoS)
  • Antivirus/Antimalware
  • Encryption
  • Others
  • Service
  • Implementation and Integration Service
  • Consulting Service
  • Support and Maintenance Service

Breakup by Enterprise Size:

  • Large Enterprises
  • Small and Medium Enterprises

Breakup by End User:

  • Banks
  • Insurance Companies
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Axis Communications AB, Booz Allen Hamilton Holding Corporation, Check Point Software Technologies Ltd., Cisco Systems Inc., Honeywell International Inc., Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Robert Bosch GmbH, Seico Inc., Sophos Ltd. and Trend Micro Incorporated.

Key Questions Answered in This Report

1. What was the size of the global BFSI security market in 2023?
2. What is the expected growth rate of the global BFSI security market during 2024-2032?
3. What are the key factors driving the global BFSI security market?
4. What has been the impact of COVID-19 on the global BFSI security market?
5. What is the breakup of the global BFSI security market based on the type?
6. What is the breakup of the global BFSI security market based on the physical security offering?
7. What is the breakup of the global BFSI security market based on the information security offering?
8. What is the breakup of the global BFSI security market based on the enterprise size?
9. What is the breakup of the global BFSI security market based on the end user?
10. What are the key regions in the global BFSI security market?
11. Who are the key players/companies in the global BFSI security market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global BFSI Security Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Physical Security
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Cyber Security
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Physical Security Offering
7.1 System
7.1.1 Market Trends
7.1.2 Key Segments
7.1.2.1 Physical Access System
7.1.2.2 Video Surveillance System
7.1.2.3 Perimeter Intrusion and Detection
7.1.2.4 Physical Security Information Management
7.1.2.5 Others
7.1.3 Market Forecast
7.2 Service
7.2.1 Market Trends
7.2.2 Key Segments
7.2.2.1 Remote Monitoring Services
7.2.2.2 Security Systems Integration Services
7.2.2.3 Others
7.2.3 Market Forecast
8 Market Breakup by Information Security Offering
8.1 Solution
8.1.1 Market Trends
8.1.2 Key Segments
8.1.2.1 Identity and Access Management (IAM)
8.1.2.2 Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
8.1.2.3 Data Loss Prevention (DLP)
8.1.2.4 Disaster Recovery
8.1.2.5 Distributed Denial of Service (DDoS)
8.1.2.6 Antivirus/Antimalware
8.1.2.7 Encryption
8.1.2.8 Others
8.1.3 Market Forecast
8.2 Service
8.2.1 Market Trends
8.2.2 Key Segments
8.2.2.1 Implementation and Integration Service
8.2.2.2 Consulting Service
8.2.2.3 Support and Maintenance Service
8.2.3 Market Forecast
9 Market Breakup by Enterprise Size
9.1 Large Enterprises
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Small and Medium Enterprises
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by End User
10.1 Banks
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Insurance Companies
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Others
10.3.1 Market Trends
10.3.2 Market Forecast
11 Market Breakup by Region
11.1 North America
11.1.1 United States
11.1.1.1 Market Trends
11.1.1.2 Market Forecast
11.1.2 Canada
11.1.2.1 Market Trends
11.1.2.2 Market Forecast
11.2 Asia-Pacific
11.2.1 China
11.2.1.1 Market Trends
11.2.1.2 Market Forecast
11.2.2 Japan
11.2.2.1 Market Trends
11.2.2.2 Market Forecast
11.2.3 India
11.2.3.1 Market Trends
11.2.3.2 Market Forecast
11.2.4 South Korea
11.2.4.1 Market Trends
11.2.4.2 Market Forecast
11.2.5 Australia
11.2.5.1 Market Trends
11.2.5.2 Market Forecast
11.2.6 Indonesia
11.2.6.1 Market Trends
11.2.6.2 Market Forecast
11.2.7 Others
11.2.7.1 Market Trends
11.2.7.2 Market Forecast
11.3 Europe
11.3.1 Germany
11.3.1.1 Market Trends
11.3.1.2 Market Forecast
11.3.2 France
11.3.2.1 Market Trends
11.3.2.2 Market Forecast
11.3.3 United Kingdom
11.3.3.1 Market Trends
11.3.3.2 Market Forecast
11.3.4 Italy
11.3.4.1 Market Trends
11.3.4.2 Market Forecast
11.3.5 Spain
11.3.5.1 Market Trends
11.3.5.2 Market Forecast
11.3.6 Russia
11.3.6.1 Market Trends
11.3.6.2 Market Forecast
11.3.7 Others
11.3.7.1 Market Trends
11.3.7.2 Market Forecast
11.4 Latin America
11.4.1 Brazil
11.4.1.1 Market Trends
11.4.1.2 Market Forecast
11.4.2 Mexico
11.4.2.1 Market Trends
11.4.2.2 Market Forecast
11.4.3 Others
11.4.3.1 Market Trends
11.4.3.2 Market Forecast
11.5 Middle East and Africa
11.5.1 Market Trends
11.5.2 Market Breakup by Country
11.5.3 Market Forecast
12 SWOT Analysis
12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats
13 Value Chain Analysis
14 Porters Five Forces Analysis
14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 Axis Communications AB
16.3.1.1 Company Overview
16.3.1.2 Product Portfolio
16.3.2 Booz Allen Hamilton Holding Corporation
16.3.2.1 Company Overview
16.3.2.2 Product Portfolio
16.3.2.3 Financials
16.3.2.4 SWOT Analysis
16.3.3 Check Point Software Technologies Ltd.
16.3.3.1 Company Overview
16.3.3.2 Product Portfolio
16.3.3.3 Financials
16.3.3.4 SWOT Analysis
16.3.4 Cisco Systems Inc.
16.3.4.1 Company Overview
16.3.4.2 Product Portfolio
16.3.4.3 Financials
16.3.4.4 SWOT Analysis
16.3.5 Honeywell International Inc.
16.3.5.1 Company Overview
16.3.5.2 Product Portfolio
16.3.5.3 Financials
16.3.5.4 SWOT Analysis
16.3.6 Intel Corporation
16.3.6.1 Company Overview
16.3.6.2 Product Portfolio
16.3.6.3 Financials
16.3.6.4 SWOT Analysis
16.3.7 International Business Machines Corporation
16.3.7.1 Company Overview
16.3.7.2 Product Portfolio
16.3.7.3 Financials
16.3.7.4 SWOT Analysis
16.3.8 Microsoft Corporation
16.3.8.1 Company Overview
16.3.8.2 Product Portfolio
16.3.8.3 Financials
16.3.8.4 SWOT Analysis
16.3.9 Robert Bosch GmbH
16.3.9.1 Company Overview
16.3.9.2 Product Portfolio
16.3.9.3 SWOT Analysis
16.3.10 Seico Inc.
16.3.10.1 Company Overview
16.3.10.2 Product Portfolio
16.3.11 Sophos Ltd.
16.3.11.1 Company Overview
16.3.11.2 Product Portfolio
16.3.12 Trend Micro Incorporated
16.3.12.1 Company Overview
16.3.12.2 Product Portfolio
16.3.12.3 Financials
16.3.12.4 SWOT Analysis
List of Figures
Figure 1: Global: BFSI Security Market: Major Drivers and Challenges
Figure 2: Global: BFSI Security Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: BFSI Security Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: BFSI Security Market: Breakup by Type (in %), 2023
Figure 5: Global: BFSI Security Market: Breakup by Physical Security Offering (in %), 2023
Figure 6: Global: BFSI Security Market: Breakup by Information Security Offering (in %), 2023
Figure 7: Global: BFSI Security Market: Breakup by Enterprise Size (in %), 2023
Figure 8: Global: BFSI Security Market: Breakup by End User (in %), 2023
Figure 9: Global: BFSI Security Market: Breakup by Region (in %), 2023
Figure 10: Global: BFSI Security (Physical Security) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: BFSI Security (Physical Security) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: BFSI Security (Cyber Security) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: BFSI Security (Cyber Security) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: BFSI Security (System) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: BFSI Security (System) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: BFSI Security (Service) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: BFSI Security (Service) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: BFSI Security (Solution) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: BFSI Security (Solution) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: BFSI Security (Service) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: BFSI Security (Service) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: BFSI Security (Large Enterprises) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: BFSI Security (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: BFSI Security (Small and Medium Enterprises) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: BFSI Security (Small and Medium Enterprises) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: BFSI Security (Banks) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: BFSI Security (Banks) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: BFSI Security (Insurance Companies) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: BFSI Security (Insurance Companies) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Global: BFSI Security (Other End Users) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: BFSI Security (Other End Users) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: North America: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: North America: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: United States: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: United States: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Canada: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Canada: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Asia-Pacific: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Asia-Pacific: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: China: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: China: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Japan: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Japan: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: India: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: India: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: South Korea: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: South Korea: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Australia: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Australia: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Indonesia: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Indonesia: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Others: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Others: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Europe: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Europe: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Germany: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Germany: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: France: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: France: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: United Kingdom: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: United Kingdom: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Italy: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Italy: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Spain: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Spain: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: Russia: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: Russia: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Others: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Others: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Latin America: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Latin America: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Brazil: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Brazil: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: Mexico: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: Mexico: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 76: Others: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 77: Others: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 78: Middle East and Africa: BFSI Security Market: Sales Value (in Million US$), 2018 & 2023
Figure 79: Middle East and Africa: BFSI Security Market: Breakup by Country (in %), 2023
Figure 80: Middle East and Africa: BFSI Security Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 81: Global: BFSI Security Industry: SWOT Analysis
Figure 82: Global: BFSI Security Industry: Value Chain Analysis
Figure 83: Global: BFSI Security Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: BFSI Security Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: BFSI Security Market Forecast: Breakup by Type (in Million US$), 2024-2032
Table 3: Global: BFSI Security Market Forecast: Breakup by Physical Security Offering (in Million US$), 2024-2032
Table 4: Global: BFSI Security Market Forecast: Breakup by Information Security Offering (in Million US$), 2024-2032
Table 5: Global: BFSI Security Market Forecast: Breakup by Enterprise Size (in Million US$), 2024-2032
Table 6: Global: BFSI Security Market Forecast: Breakup by End User (in Million US$), 2024-2032
Table 7: Global: BFSI Security Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 8: Global: BFSI Security Market: Competitive Structure
Table 9: Global: BFSI Security Market: Key Players

Companies Mentioned

  • Axis Communications AB
  • Booz Allen Hamilton Holding Corporation
  • Check Point Software Technologies Ltd.
  • Cisco Systems Inc.
  • Honeywell International Inc.
  • Intel Corporation
  • International Business Machines Corporation
  • Microsoft Corporation
  • Robert Bosch GmbH
  • Seico Inc.
  • Sophos Ltd.
  • Trend Micro Incorporated

Methodology

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Table Information

Report AttributeDetails
No. of Pages136
PublishedSeptember 2024
Forecast Period2023 - 2032
Estimated Market Value ( USD ) in 2023 $ 60.5 Billion
Forecasted Market Value ( USD ) by 2032 $ 131.4 Billion
Compound Annual Growth Rate9.0%
Regions CoveredGlobal
No. of Companies Mentioned12

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About the BFSI Security Market

The Banking, Financial Services and Insurance (BFSI) Security market is a sector of the information security industry that focuses on providing security solutions to the banking, financial services and insurance (BFSI) sector. These solutions are designed to protect the financial data and assets of banks, financial institutions, and insurance companies from cyber threats. The BFSI Security market is driven by the increasing number of cyber-attacks targeting the BFSI sector, the growing need for compliance with regulatory requirements, and the increasing adoption of cloud-based solutions. The BFSI Security market is segmented into solutions, services, and regions. Solutions include identity and access management, data security, encryption, and fraud detection. Services include consulting, implementation, and managed services. Regions include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Some of the major companies in the BFSI Security market are IBM, Symantec, McAfee, Microsoft, Cisco Systems, Check Point Software Technologies, FireEye, Trend Micro, Fortinet, and Palo Alto Networks. Show Less Read more

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