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PUBLISHER: IMARC | PRODUCT CODE: 1561550
PUBLISHER: IMARC | PRODUCT CODE: 1561550
BFSI Security Market Report by Type, Physical Security Offering, Information Security Offering, Enterprise Size, End User, and Region 2024-2032
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The global BFSI security market size reached US$ 60.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 131.4 Billion by 2032, exhibiting a growth rate (CAGR) of 8.6% during 2024-2032.
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:
IMARC Group 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. Our 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?
Product Code: SR112024A4968
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
- 11.1.1 United States
- 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
- 11.2.1 China
- 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
- 11.3.1 Germany
- 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
- 11.4.1 Brazil
- 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
- 16.3.1 Axis Communications AB
Product Code: SR112024A4968
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
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