BFSI Security Market by Information Security (IAM, Encryption, Disaster Recovery, UTM, Firewall, Security and Vulnerability Management, IDS/IPS, Data Loss Protection, Antivirus & Antimalware) & Physical Security - Global Forecast to 2021

  • ID: 3843317
  • Report
  • Region: Global
  • 169 Pages
  • Markets and Markets
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The Global Small Animal Imaging Market is Expected to Reach a Value of USD 910.4 Million by 2021 Growing at a CAGR of 6.2% During 2016-2021

FEATURED COMPANIES

  • Booz Allen Hamilton, Inc.
  • Cisco Systems, Inc.
  • EMC Corporation
  • IBM Corporation
  • Sophos Group PLC.
  • Symantec Corporation
  • MORE
The global BFSI security market size 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. Enforcement of regulatory security compliance and the increasing risk of cyber threats against BFSI infrastructure are the major drivers for the BFSI security market.

The physical security segment is estimated to grow at the highest CAGR during the forecast period. This growth can be attributed to the fact that physical security provides protection of personnel, hardware, programs, networks, and data from physical circumstances and events that could cause serious losses or damage to an enterprise, agency, or institution.

The physical security segment is also expected to account for the largest market share during the forecast period. This growth can be attributed to the growing concern for safety due to increasing terrorism.

The system & components segment is estimated to account for the largest market share during the forecast period. This growth can be attributed to the fact that banks are continuously investing in advanced physical security solutions to prevent robberies, frauds, and suspicious ATM withdrawals. Owing to these factors, the service segment is expected to grow at the highest CAGR during the forecast period.

The service segment is estimated to grow at the highest CAGR during the forecast period. This growth can be attributed to fact that the need for protection of critical BFSI infrastructures against advanced cybercrimes, along with the economical constraint of reducing operational costs, requires a coordinated and proactive approach towards information security services.

The banking segment is estimated to grow at the highest CAGR during the forecast period. The banking sector provides tremendous technological revolution in the form of ATMs, core banking, e-banking, mobile banking, and the associated services, such as real-time gross settlement (RTGS), centralized fund management system (CFMS), and use of credit, debit, and smart cards, among others. All these services require protection against cyber threats, which drives the growth of the BFSI security market.

The Asia-Pacific region is projected to grow at the highest CAGR from 2016 to 2021. This growth can be mainly attributed to the increasing adoption of BFSI security solutions across India, China, Japan, and Australia. North America is expected to account for the largest market share in 2016 and the trend is expected to continue during the forecast period.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:

- By Company Type: Tier 1 - 40%, Tier 2 - 35%, and Tier 3 - 25%
- By Designation: C-level - 28%, Director level - 43%, and Manager level - 29%
- By Region: North America - 46%, Europe - 31%, Asia-Pacific - 15%, RoW - 8%

The various key players profiled in the report are as follows:

1. Cisco Systems, Inc. (U.S.)
2. Computer Sciences Corporation (CSC) (U.S.)
3. EMC Corporation (U.S.)
4. Honeywell International, Inc. (U.S.)
5. IBM Corporation (U.S.)
6. Booz Allen Hamilton, Inc. (U.S.)
7. McAfee, Inc. (Intel Security Group) (U.S.)
8. Sophos Group Plc. (U.S.)
9. Symantec Corporation (U.S.)
10. Trend Micro Incorporated (U.S)

Objectives of the Study:

- To define and measure the global banking, financial services, and insurance (BFSI) security market, on the basis of security type, subvertical, and region
- To provide detailed information regarding the key factors influencing market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze subsegments with respect to individual growth trends, future prospects, and contribution to the total market
- To forecast the market size with respect to five regional segments, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America
- To track and analyze competitive developments, such as mergers & acquisitions, new product developments, and research and development (R&D) activities in the market

Target Audience:

- IT Service Providers and Distributors
- Cyber Security Vendors
- BFSI Security Vendors
- Value Added Resellers
- Government Bodies and Departments
- Cloud Service Providers
- System Integrators
- Technology Consultants
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Booz Allen Hamilton, Inc.
  • Cisco Systems, Inc.
  • EMC Corporation
  • IBM Corporation
  • Sophos Group PLC.
  • Symantec Corporation
  • MORE
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Introduction
2.1.1 Key Data From Secondary Sources
2.1.2 Key Data From Primary Sources
2.1.2.1 Key Industry Insights
2.1.2.2 Breakdown of Primaries
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions and Limitations
2.4.1 Assumptions
2.4.2 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the BFSI Security Market
4.2 Market, By Sub-Vertical
4.3 Market, By Physical Security System and Component Segment and Region
4.4 Lifecycle Analysis, By Region

5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.2.1 By Type
5.2.2 BFSI Physical Security Market, By System & Component
5.2.3 BFSI Physical Security Market, By Services
5.2.4 BFSI Information Security Market, By System & Component
5.2.5 BFSI Information Security Market, By Services
5.2.6 BFSI Security Market, By Sub-Vertical
5.2.7 By Region
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Implementation of Regulatory Standards and Acts
5.3.1.2 Rise in Adoption of Cloud-Based Security Solutions
5.3.1.3 Increasing Risk of Data Loss
5.3.2 Restraints
5.3.2.1 Complexity in Security Infrastructure and Lack of Awareness Among Customers
5.3.2.1 Lack of Interoperability Between Security Products
5.3.3 Opportunities
5.3.3.1 Security Solutions Based on Internet of Things (IOT)
5.3.4 Challenges
5.3.4.1 High Implementation Cost of Security Solutions
5.4 Regulatory Implications
5.4.1 Payment Card Industry Data Security Standard (PCI-DSS)
5.4.2 Gramm-Leach-Bliley Act (GLB Act)
5.4.3 Sarbanes-Oxley Act (SOX)
5.5 Innovation Spotlight

6 BFSI Security Market, By Security Type
6.1 Introduction
6.2 Physical Security
6.3 Information Security

7 BFSI Physical Security Market, By System & Component, and By Services
7.1 Introduction
7.2 System and Component
7.2.1 Video Surveillance
7.2.2 Access Control
7.2.3 Intrusion & Fire Detection
7.2.4 Physical Security Information Management (PSIM)
7.3 Services
7.3.1 System Integration
7.3.2 Maintenance & Support
7.3.3 Design & Consulting

8 BFSI Security Market for Information Security Solution and Services
8.1 Introduction
8.2 Solution
8.2.1 Identity & Access Management
8.2.2 Risk & Compliance Management
8.2.3 Encryption
8.2.4 Disaster Recovery
8.2.5 Unified Threat Management (UTM)
8.2.6 Firewall
8.2.7 Ddos Mitigation
8.2.8 Security & Vulnerability Management
8.2.9 Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
8.2.10 Data Loss Protection (DLP)
8.2.11 Antivirus & Anti-Malware
8.2.12 Web Filtering
8.2.13 Others
8.3 Services
8.3.1 Consulting
8.3.2 Design & Integration
8.3.3 Risk & Threat Assessment
8.3.4 Managed Security Services
8.3.5 Training & Education

9 BFSI Security Market, By Sub-Vertical
9.1 Introduction
9.2 Banking
9.3 Insurance Companies
9.4 Other Financial Institutions

10 Regional Analysis
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific (APAC)
10.5 Middle East & Africa (MEA)
10.6 Latin America

11 Competitive Landscape
11.1 Overview
11.2 Competitive Situation and Trends
11.2.1 New Product Launches
11.2.2 Partnerships, Agreements, and Collaborations
11.2.3 Mergers and Acquisitions
11.2.4 Expansions

12 Company Profiles
(Overview, Financials, Products & Services, Strategy, and Developments)*
12.1 Cisco Systems, Inc.
12.2 Computer Sciences Corporation
12.3 EMC Corporation
12.4 Honeywell International, Inc.
12.5 IBM Corporation
12.6 Booz Allen Hamilton, Inc.
12.7 Mcafee, Inc. (Intel Security Group)
12.8 Sophos Group PLC.
12.9 Symantec Corporation
12.10 Trend Micro Incorporated

*Details on Overview, Financials, Product & Services, Strategy, and Developments Might Not Be Captured in Case of Unlisted Company

13 Appendix
13.1 Industry Experts
13.2 Discussion Guide

List of Tables

Table 1 BFSI Security Market Size and Growth 2014-2021 (USD Billion)
Table 2 Innovation Spotlight: Latest Cyber Security Innovations
Table 3 Market Size, By Security Type, 2014-2021 (USD Million)
Table 4 Physical Security: Market, By Region, 2014-2021 (USD Million)
Table 5 Information Security: Market, By Region, 2014-2021 (USD Million)
Table 6 BFSI Physical Security Market, By Type, 2014-2021 (USD Million)
Table 7 BFSI Physical Security Market, By System and Component, 2014-2021 (USD Million)
Table 8 System & Component: BFSI Physical Security Market, By Region, 2014-2021 (USD Million)
Table 9 Video Surveillance: BFSI Physical Security Market, By Region, 2014-2021 (USD Million)
Table 10 Access Control: BFSI Physical Security Market, By Region, 2014-2021 (USD Million)
Table 11 Intrusion & Fire Detection: BFSI Physical Security Market, By Region, 2014-2021 (USD Million)
Table 12 Physical Security Information Management: BFSI Physical Security Market, By Region, 2014-2021 (USD Million)
Table 13 BFSI Physical Security Market, By Service, 2014-2021 (USD Million)
Table 14 Services: BFSI Physical Security Market Size , By Region, 2014-2021 (USD Million)
Table 15 System Integration: BFSI Physical Security Market, By Region, 2014-2021 (USD Million)
Table 16 Maintenance & Support: BFSI Physical Security Market, By Region, 2014-2021 (USD Million)
Table 17 Design & Consulting: BFSI Physical Security Market, By Region, 2014-2021 (USD Million)
Table 18 BFSI Security Market Size, By Information Security Type, 2014-2021 (USD Million)
Table 19 Market for Information Security, By Solution, 2014-2021 (USD Million)
Table 20 Market for Information Security Solution, By Region, 2014-2021 (USD Million)
Table 21 Identity & Access Management: Market for Information Security Solutions, By Region, 2014-2021 (USD Million)
Table 22 Risk & Compliance Management: Market for Information Security Solution, By Region, 2014-2021 (USD Million)
Table 23 Encryption: Market for Information Security Solution, By Region, 2014-2021 (USD Million)
Table 24 Disaster Recovery: Market for Information Security Solution, By Region, 2014-2021 (USD Million)
Table 25 Unified Threat Management: Market for Information Security Solution, By Region, 2014-2021 (USD Million)
Table 26 Firewall: BFSI Security Market for Information Security Solution, By Region, 2014-2021 (USD Million)
Table 27 Ddos Mitigation: Market for Information Security Solution, By Region, 2014-2021 (USD Million)
Table 28 Security & Vulnerability Management: Market for Information Security Solution, By Region, 2014-2021 (USD Million)
Table 29 IDS/IPS: Market for Information Security Solution, By Region, 2014-2021 (USD Million)
Table 30 Data Loss Protection: Market for Information Security Solution, By Region, 2014-2021 (USD Million)
Table 31 Antivirus & Anti-Malware: Market for Information Security Solution, By Region, 2014-2021 (USD Million)
Table 32 Web Filtering: BFSI Security Market for Information Security Solution, By Region, 2014-2021 (USD Million)
Table 33 Other Solution: Market for Information Security Solution, By Region, 2014-2021 (USD Million)
Table 34 BFSI Information Security Market, By Services, 2014-2021 (USD Million)
Table 35 Market for Information Security Services, By Region, 2014-2021 (USD Million)
Table 36 Consulting: Market for Information Security Services, By Region, 2014-2021 (USD Million)
Table 37 Design & Integration: Market for Information Security Services, By Region, 2014-2021 (USD Million)
Table 38 Risk & Threat Assessment: Market for Information Security Services, By Region, 2014-2021 (USD Million)
Table 39 Managed Security Services: BFSI Security Market for Information Security Services, By Region, 2014-2021 (USD Million)
Table 40 Training & Education Services: Market for Information Security, By Region, 2014-2021 (USD Million)
Table 41 Market Size, By Sub-Vertical, 2014-2021 (USD Million)
Table 42 Banking: Market Size, By Region, 2014-2021 (USD Million)
Table 43 Insurance Companies: Market Size, By Region, 2014-2021 (USD Million)
Table 44 Other Financial Institutions: BFSI Security Market Size, By Region, 2014-2021 (USD Million)
Table 45 Market Size, By Region, 2014-2021 (USD Million)
Table 46 North America: Market, By Type, 2014-2021 (USD Million)
Table 47 North America: Market, By Physical Security, 2014-2021 (USD Million)
Table 48 North America: BFSI Physical Security Market, By System & Component, 2014-2021 (USD Million)
Table 49 North America: BFSI Physical Security Market, By Services, 2014-2021 (USD Million)
Table 50 North America: BFSI Security Market, By Information Security, 2014-2021 (USD Million)
Table 51 North America: BFSI Information Security Market, By System & Component, 2014-2021 (USD Million)
Table 52 North America: BFSI Information Security Market, By Services, 2014-2021 (USD Million)
Table 53 North America: Market, By Sub-Vertical, 2014-2021 (USD Million)
Table 54 Europe: Market, By Type, 2014-2020 (USD Million)
Table 55 Europe: BFSI Security Market, By Physical Security, 2014-2021 (USD Million)
Table 56 Europe: BFSI Physical Security Market, By System & Component, 2014-2021 (USD Million)
Table 57 Europe: BFSI Physical Security Market, By Service, 2014-2021 (USD Million)
Table 58 Europe: Market, By Information Security, 2014-2021 (USD Million)
Table 59 Europe: BFSI Information Security Market, By System and Component, 2014-2021 (USD Million)
Table 60 Europe: BFSI Information Security Market, By Service, 2014-2021 (USD Million)
Table 61 Europe: Market, By Sub-Vertical, 2014-2021 (USD Million)
Table 62 Asia-Pacific: Market, By Type, 2014-2021 (USD Million)
Table 63 Asia-Pacific: Market, By Physical Security, 2014-2021 (USD Million)
Table 64 Asia-Pacific: BFSI Physical Security Market, By System & Component, 2014-2021 (USD Million)
Table 65 Asia-Pacific: BFSI Physical Security Market, By Service, 2014-2021 (USD Million)
Table 66 Asia-Pacific: BFSI Security Market, By Information Security, 2014-2021 (USD Million)
Table 67 Asia-Pacific: BFSI Information Security Market, By System & Component, 2014-2021 (USD Million)
Table 68 Asia-Pacific: BFSI Information Security Market, By Service, 2014-2021 (USD Million)
Table 69 Asia-Pacific: Market, By Sub-Vertical, 2014-2021 (USD Million)
Table 70 Middle East & Africa: Market, By Type, 2014-2021 (USD Million)
Table 71 Middle East & Africa: Market, By Physical Security, 2014-2021 (USD Million)
Table 72 Middle East & Africa: BFSI Physical Security Market, By System & Component, 2014-2021 (USD Million)
Table 73 Middle East & Africa: BFSI Physical Security Market, By Service, 2014-2021 (USD Million)
Table 74 Middle East & Africa: Market, By Information Security, 2014-2021 (USD Million)
Table 75 Middle East & Africa: BFSI Information Security Market, By System & Component, 2014-2021 (USD Million)
Table 76 Middle East & Africa: BFSI Information Security Market, By Service, 2014-2021 (USD Million)
Table 77 Middle East & Africa: BFSI Security Market, By Sub-Vertical, 2014-2021 (USD Million)
Table 78 Latin America: Market, By Type, 2014-2021 (USD Million)
Table 79 Latin America: Market, By Physical Security, 2014-2021 (USD Million)
Table 80 Latin America: BFSI Physical Security Market, By System & Component, 2014-2021 (USD Million)
Table 81 Latin America: BFSI Physical Security Market, By Services, 2014-2021 (USD Million)
Table 82 Latin America: Market, By Information Security, 2014-2021 (USD Million)
Table 83 Latin America: BFSI Information Security Market, By System & Component, 2014-2021 (USD Million)
Table 84 Latin America: BFSI Information Security Market, By Service, 2014-2021 (USD Million)
Table 85 Latin America: Market, By Sub-Vertical, 2014-2021 (USD Million)
Table 86 New Product Launches, 2013-2016
Table 87 Partnerships, Agreements, and Collaborations, 2014-2016
Table 88 Mergers and Acquisitions, 2013-2015
Table 89 Expansions, 2013-2015

List of Figures

Figure 1 BFSI Security Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Research Methodology: Data Triangulation
Figure 5 Physical Security Segment Expected to Be the Fastest-Growing Segment of Market From 2016 to 2021
Figure 6 Market in Asia-Pacific Expected to Grow at the Highest CAGR During the Forecast Period
Figure 7 Increasing Demand for Physical Security Solutions Expected to Fuel the Growth of BFSI Security Market During the Forecast Period
Figure 8 Insurance Vertical Expected to Witness Highest Growth During the Forecast Period
Figure 9 Physical Security Information Management Segment Expected to Be the Fastest-Growing Segment of  Market During the Forecast Period
Figure 10 Market Segmentation: By Type
Figure 11 BFSI Physical Security Market Segmentation: By System & Component
Figure 12 BFSI Physical Security Market Segmentation: By Services
Figure 13 BFSI Information Security Market Segmentation: By System & Component
Figure 14 BFSI Information Security Market Segmentation: By Services
Figure 15 Market Segmentation: By Sub-Vertical
Figure 16 BFSI Security Market Segmentation: By Region
Figure 17 Global Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Physical Security Segment is Expected to Account for the Largest Share of the Market in 2016
Figure 19 System & Component Segment is Expected to Account for A Major Share of the BFSI Physical Security Market During the Forecast Period
Figure 20 Solution Expected to Contribute A Larger Share to the BFSI Information Security Segment From 2016 to 2021
Figure 21 Banking is Expected to Dominate the BFSI Security Market During the Forecast Period
Figure 22 Asia-Pacific: an Attractive Destination for the Market, 2016-2021
Figure 23 Market, By Region, 2016 & 2021 (USD Million)
Figure 24 North American Market: Snapshot
Figure 25 Asia-Pacific Market: Snapshot
Figure 26 Companies Adopted New Product Launches as A Key Growth Strategy During 2013-2016
Figure 27 Market Evaluation Framework
Figure 28 Cisco Systems, Inc.: Company Snapshot
Figure 29 Cisco Systems, Inc.: SWOT Analysis
Figure 30 Computer Sciences Corporation: Company Snapshot
Figure 31 Computer Sciences Corporation: SWOT Analysis
Figure 32 EMC Corporation: Company Snapshot
Figure 33 EMC Corporation: SWOT Analysis
Figure 34 Honeywell International, Inc.: Company Snapshot
Figure 35 Honeywell International, Inc.: SWOT Analysis
Figure 36 IBM Corporation: Company Snapshot
Figure 37 IBM Corporation: SWOT Analysis
Figure 38 Booz Allen Hamilton, Inc.: Company Snapshot
Figure 39 Sophos Group PLC.: Company Snapshot
Figure 40 Symantec Corporation: Company Snapshot
Figure 41 Trend Micro Incorporated: Company Snapshot
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Booz Allen Hamilton, Inc.
  • Cisco Systems, Inc.
  • EMC Corporation
  • IBM Corporation
  • Sophos Group PLC.
  • Symantec Corporation
  • MORE
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.

The report provides insights on the BFSI security market, which is segmented on the basis of type, physical security, information security, subvertical, and region. Among types, the physical security segment has the largest market share and is expected to grow at a high CAGR, thus leading the overall market during the forecast period. Physical security solutions provide protection against various threats, in terms of malicious software, dishonest insider and external frauds, and natural and man-made disasters.

Based on physical security, the services segment is a more preferred method, as it plays a vital role in enhancing the existing video surveillance system by integrating digital video surveillance with network and IT systems. It is expected to register the highest growth rate during the forecast period. The system & components segment is estimated to account for the largest market share during the forecast period.

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.

Among verticals, the banking segment is expected to account for the largest market share in the overall BFSI Security market, as banks are seeking to retain and maximize the potential of the pre-existing customers and are moving towards new low-risk financial services products. The insurance 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.

Cisco Systems, Inc. is a leading supplier of networking products, systems, and associated services. It largely focuses on designing innovative networking solutions for various industries, such as transportation, retail, and manufacturing, among others. Cisco considers security portfolio as its top investment priority and is continuously supporting the R&D against revenue loss, intellectual property deprivation, and reputation diminution in the BFSI industry vertical. For instance, in August 2016, Cisco acquired Cloudlock, a privately-held company based in the U.S., which offers CloudLock and Cisco the industry’s broadest cloud security protection for users, applications, and data.
Note: Product cover images may vary from those shown
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- 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
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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