The increasing risk of cyber threats against BFSI infrastructure, such as banks and insurance companies is expected to drive the BFSI Market

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 expected to grow at the highest CAGR during the forecast period
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.

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The system & components segment is estimated to account for the largest market share during the forecast period

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.

The service segment of information security type 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.

The banking segment is estimated to account for the largest market share during the forecast period
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.

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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%

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 forecast the market size with respect to five regional segments, namely, North America, Europe, Asia-Pacific APAC, Middle East

To track and analyze competitive developments, such as mergers & acquisitions,new product developments,research & development

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