PUBLISHER: The Business Research Company | PRODUCT CODE: 1686401
PUBLISHER: The Business Research Company | PRODUCT CODE: 1686401
Financial services cybersecurity systems and services encompass the technologies, methodologies, and strategies employed by financial institutions to safeguard their digital assets, sensitive data, and operations from cyber threats. These systems and services are crucial for protecting confidential financial information, ensuring compliance with regulatory requirements, and preserving customer trust.
The primary product categories within financial services cybersecurity systems and services are endpoint security, identity and access management, mobile security, security information and event management, content security, and datacenter security. Endpoint security focuses on protecting individual devices, such as computers and mobile phones, against cyber threats, utilizing security software to detect and block malicious activities to safeguard sensitive data and network integrity. These solutions are available in various deployment models, including cloud-based and on-premise options. They cater to organizations of different sizes, from small and medium enterprises to large enterprises, and find applications across various sectors including banking, insurance, stock and fund trading, government, and others.
The financial services cybersecurity systems and services market research report is one of a series of new reports from The Business Research Company that provides financial services cybersecurity systems and services market statistics, including the financial services cybersecurity systems and services industry global market size, regional shares, competitors with financial services cybersecurity systems and services market share, detailed financial services cybersecurity systems and services market segments, market trends, and opportunities, and any further data you may need to thrive in the financial services cybersecurity systems and services industry. This financial services cybersecurity systems and services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The financial services cybersecurity systems and services market size has grown rapidly in recent years. It will grow from $25.49 billion in 2024 to $28.81 billion in 2025 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to the increased digitization of financial services, escalation in cybercrime activities, rise in the frequency and sophistication of ransomware attacks, growth of mobile banking, rise in the customer expectations.
The financial services cybersecurity systems and services market size is expected to see rapid growth in the next few years. It will grow to $46.8 billion in 2029 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to rising in ransomware attacks, rising in demand for threat intelligence, growing emphasis on cyber resilience, increasing regulatory scrutiny, continued expansion of digital banking. Major trends in the forecast period include the adoption of AI-driven technologies, blockchain technology, automation, cybersecurity training, integration of deception technologies, multi-factor authentication.
The increasing prevalence of cyberattacks is anticipated to drive growth in the financial services cybersecurity systems and services market. Cyberattacks, defined as malicious and deliberate attempts to infiltrate another's information system, are escalating due to factors such as enhanced digitization, greater connectivity, and insufficient cybersecurity awareness. Financial services cybersecurity solutions play a crucial role in preserving the integrity, confidentiality, and availability of essential financial infrastructure and customer data, amid rising cyberattack frequency and sophistication. For example, in February 2023, the Australian Cyber Security Centre reported a 13% increase in cyberattacks over the previous year, totaling 76,000 incidents in 2022. This uptrend in cyberattacks underscores the expanding need for robust cybersecurity measures within the financial sector.
Leading players in the financial services cybersecurity market are focusing on developing AI-driven compliance management software, such as FTC compliance managers, to maintain a competitive advantage. These AI-enabled software solutions utilize algorithms and machine learning to perform tasks with minimal human oversight. In December 2023, CyberCatch Holdings Inc., a US-based cybersecurity firm, introduced the FTC Compliance Manager. This innovative tool is designed to address the cybersecurity requirements stipulated by the US Federal Trade Commission's Safeguards Rule and its updates. It provides AI-enabled continuous compliance and cyber risk mitigation for non-bank financial entities in the US, reflecting CyberCatch's commitment to delivering cutting-edge cybersecurity solutions that help businesses safeguard their digital assets and adhere to regulatory standards.
In December 2023, Thales, a French multinational company, completed the acquisition of Imperva Inc. for an undisclosed sum. This strategic move is intended to reinforce Thales's leadership in global cybersecurity by enhancing its security offerings to businesses and governmental entities. Imperva, a US-based cybersecurity company, specializes in providing comprehensive security solutions across data, edge, and applications specifically tailored for financial institutions. This acquisition supports Thales's strategy to expand its cybersecurity capabilities and offerings.
Major companies operating in the financial services cybersecurity systems and services market are International Business Machines Corporation, Cisco Systems Inc., Ernst & Young Global Limited, Broadcom Inc., Palo Alto Networks Inc., Fortinet Inc., Check Point Software Technologies Ltd., Trend Micro Incorporated, CrowdStrike Holdings Inc., Proofpoint Inc., FireEye Inc., Rapid7 Inc., Forcepoint LLC, CyberArk Software Ltd., Varonis Systems Inc., SentinelOne Inc., Trustwave Holdings Inc., Cylance Inc., LogRhythm Inc., SecurityScorecard Inc., Sophos Group plc, BitSight Inc.
North America was the largest region in the financial services cybersecurity systems and services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the financial services cybersecurity systems and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the financial services cybersecurity systems and services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The financial services cybersecurity systems and services market includes revenues earned by entities by providing services such as security auditing and monitoring, data protection and encryption services, and managed security services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Financial Services Cybersecurity Systems And Services Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on financial services cybersecurity systems and services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for financial services cybersecurity systems and services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The financial services cybersecurity systems and services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.