DUBLIN, September 15, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "BFSI Security Market - Global Forecast to 2021" report to their offering.
The BFSI security market is estimated to grow from USD 30.23 Billion in 2016 to USD 48.95 Billion by 2021, at a CAGR of 10.1% during the forecast period. This growth can be attributed to the enforcement of regulatory security compliances, increasing number of sophisticated threats, and incorporation of the Internet of things (IOT). Hence, the adoption of BFSI Security is increasing in various industries.
On the basis of information security, the BFSI security market is divided into system & components and services. Currently, the system & components segment leads the market with the largest market share and will continue to do so, during the forecast period. This can be attributed to the fact that they form a strong line of defense to tackle a variety of sophisticated threats in a multi-layered fashion for banks, insurance companies, and financial institutions. The service segment is expected to grow at the highest CAGR during the forecast period.
North America is expected to account for a large share of the BFSI security market, during the forecast period owing to the implementation of BFSI security solutions across varied industries in this region. However, the Asia-Pacific region is expected to grow at the highest CAGR by 2021. The growth in this region can be mainly attributed to the increasing adoption of BFSI security solutions across India, China, Japan, and Australia.
BFSI security offers numerous benefits to the users and organization, but at the same time, it accompanies various security risks, which is a restraining factor for the market. It has a wide complexity in security infrastructure. User awareness towards complex threats and system vulnerabilities is very critical. Banks and utilities need to continuously engage customers and educate them about their online security. It lacks interoperability between security products, which restrains the growth of the BFSI security market. Hence, BFSI security vendors are innovating their product portfolio to manage handling complexity.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 BFSI Security Market, By Security Type
7 BFSI Physical Security Market, By System & Component, and By Services
8 BFSI Security Market for Information Security Solution and Services
9 BFSI Security Market, By Sub-Vertical
10 Regional Analysis
11 Competitive Landscape
12 Company Profiles
- Booz Allen Hamilton, Inc.
- Cisco Systems, Inc.
- Computer Sciences Corporation
- EMC Corporation
- Honeywell International, Inc.
- IBM Corporation
- Mcafee, Inc. (Intel Security Group)
- Sophos Group PLC.
- Symantec Corporation
- Trend Micro Incorporated
For more information about this report visit http://www.researchandmarkets.com/research/5qhj3h/bfsi_security
Related Topics: Banking, Security Services
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SOURCE Research and Markets