Global Payment Security Software Market: Increasing Strategic Alliances Among Players to Lead to Market Consolidation, Says TMR

News provided by

Sep 07, 2017, 10:30 ET

ALBANY, New York, September 7, 2017 /PRNewswire/ --

According to a research report by Transparency Market Research (TMR), the global market for payment security software is characterized by innovation in technology. Strategic alliances among software and hardware providers is also a key trend in this market. The leading vendors of payment security software, such as Symantec, Intel, Cisco Systems, HCL Technologies, and Thales e-Security, are engaging into mergers, acquisitions, and partnerships increasingly in a bid to strengthen their presence across the world. Over the forthcoming years, the market is expected to move towards consolidation, which is anticipated to intensify the competition between the companies, notes the research study.

The report estimates the opportunity in the worldwide market for payment security to expand at a CAGR of 8.90% during the period from 2017 to 2025, reaching US$23.7 bn by the end of the forecast period. Currently, security information and event management (SIEM) software reports a greater demand from end users and this trend is projected to continue over the next few years. Among end users, the banking, financial services, and insurance (BFSI) sector is registering a high adoption of this software. Mobile payments have surfaced as the most preferred mode of payment for cashless transaction, which is reflected on demand for payment security software in this segment.

Get PDF Sample for this Research Report @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=30509

Thanks to the increased uptake of online payment methods, North America has emerged as the leading regional market for payment security software. With the rising investment in online payment technology, this market is anticipated to retain its position over the period of the forecast, states the research report.

Digital Transformation in Payment Methods to Fuel Demand for Payment Security Software

"The increasing number of cashless transactions is the main factor behind the rising demand for payment security software across the world," says a TMR analyst. With the ongoing digital transformation, the payment market is witnessing a significant change in the pattern of financial transactions, which is shifting towards cashless increasingly.

The digitization across industries is leading to high investments in the development and the deployment of new technologies, encouraging them to come up with technical competence that ensure fast, secure, and easy financial transaction and exchange of information over the Internet. As online payment is susceptible to a number of security threats, the need for payment security software is increasing constantly to prevent the losses incurred due to frauds and data breaches.

Stringent Government Regulations to Act as Hindrance

Although the global market for payment security software is anticipated to witness a thriving future over the forthcoming years, it may face several roadblock on the way. The stringent regulations governing the introduction and implementation of innovative security systems and solutions may pose a challenge to this market in the years to come. The increasing apprehension of consumer towards online payments, triggered by the surge in cyber-attacks and cases related to fraud, is also projected to hamper the market's growth over the forthcoming years. However, technological advancements in payment security systems are expected to reduce the impact of these factors in the near future, states the research report.

The review is based on a report by Transparency Market Research (TMR), titled "Payment Security Software Market (Solution - Software (Firewalls, Anti-virus/Anti-malware, Intrusion Detection and Prevention (IDS/IPS), Data Encryption, Tokenization, Multi-factor Authentication, Security Information and Event Management (SIEM), and Data Loss Prevention (DLP)), and Services; Mode of Payment - Mobile Payment Security Software, Point-of-Sale (PoS) Systems and Security, Online Payment Security Software; End Use - BFSI, Retail, Healthcare, and Government) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017-2025."

Get more information from Research Report Press Release: http://www.transparencymarketresearch.com/pressrelease/payment-security-software-market.htm

The global payment security software market is segmented as below:

By Solution

Software
- Firewalls
- Anti-virus/anti malware
- Intrusion detection and prevention (IDS/IPS)
- Data encryption
- Tokenization
- Multi-factor authentication
- Security Information and Event Management (SIEM)
- Data Loss Prevention (DLP)
- Others
Services

By Mode of Payment

Mobile payment security software
Point-of-Sale (PoS) systems and security
Online payment security software

By End-use

Banking, Financial Services and Insurance
Retail
Healthcare
Government
Others

By Geography

North America
- The U.S.
- Canada
- Rest of North America
Europe
- Germany
- Italy
- France
- The U.K
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
Middle East and Africa
- Saudi Arabia
- Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America

Top Research Report by TMR:

Software as a Service (SaaS) Market: http://www.transparencymarketresearch.com/software-service-market.html

Mobile Robotics Market: http://www.transparencymarketresearch.com/mobile-robotics-market-2017-2025.html

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

US Office Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Website: http://www.transparencymarketresearch.com