Portland, OR -- (SBWIRE) -- 06/13/2018 -- Over the recent years, the electronic banking platform has emerged as an efficient medium to remotely carry out banking transactions. Such transactions are processed by using web-based applications over the internet. At the same time, they create security risks for the user as the data is exposed to hackers. With the growing incidence of cyber-crime worldwide, the security of sensitive data such as personal banking details and confidential corporate information is at high risk. This creates the demand for BFSI security solutions which have seen high traction in the past couple of years.

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Market Drivers and Restraints

According to the report, the global BFSI security market has been witnessing a steady rise in the recent years owing to several factors. A surge in the number of cyber-attacks and frauds causes the banking and financial organizations to deploy advanced cyber-security solutions, thereby leading to the market growth. Moreover, a rise in demand for connected devices and digitization in the banking and financial sector propels the market. On the other hand, a lack of consumer awareness of understanding the complexity of modern security infrastructure limits the growth of the BFSI security industry.

Market Segmentation:

By Type
Tangible Security
Information Security

By Solution
Hardware Components
Software
Services

By Application
Risk Management
Security Governance
Data Security
Threat Extenuation
Video Surveillance
Access Controls
Identity Management
Malware Protection
Others

By Geography
North America
U.S.
Canada
Mexico

Europe
UK
Germany
France
Italy
Rest of Europe

Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific

LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA

Key Market Players

The BFSI security market is highly competitive owing to the presence of several leading market players. They adopt various strategies to strengthen their positions in the marketplace. The major players operating in the industry include Cisco Systems, Inc., Computer Sciences Corporation, EMC Corporation, Honeywell International, Inc., IBM Corporation, Booz Allen Hamilton, Inc., MacAfee, Inc. (Intel Security Group), Sophos Group PLC., Symantec Corporation, and Trend Micro Incorporated.

Key Takeaways from the Report

The report provides an in-depth understanding about the BFSI security market. It reveals insights on the crucial aspects of the global market and offers information on the competitive landscape, growth patterns, important segments, market size, market share, factors fueling and limiting the growth of the market, market trends, market forecast, and company profiles.
The report is a useful tool for stakeholders such as market players, industry experts, and investors as it helps determine the prospective investment areas based on a detailed trend analysis of the global market.
The market segmentation provided in the report helps identify the segments that are likely to be the most profitable or have a growth potential in the future so that they can be given special attention.
The report covers a detailed analysis about the prominent players in the market, covering details such as their profiles, recent developments, products and specifications, their financial and business segments, and their alliances.
The Porter's analysis helps make wise business decisions based on thorough analysis of the competitive landscape of the industry. It covers the bargaining power of buyers, bargaining power of suppliers, threat to new entrants, industry rivalry, and threat to substitutes.