BFSI Security Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
BFSI sector (Banking, Financial Services, and Insurance) generally comprises of commercial banks, insurance companies, cooperatives, non-banking financial companies, pension funds, mutual funds, and other smaller financial entities. Both physical as information security is vital for any BFSI organizations as they operated in a highly regulated environment and includes risks such as physical risks related to robbery or information risks such as cyber-crime.
MARKET DYNAMICS
The rise in the number of cybercrimes in the banking sector has resulted in an increased number of data breaches, which has resulted in loss of commercial banking details, personally identifiable information, confidential corporate information, and personal banking details, among others. Thus, there is an increased need to protect sensitive data of BFSI organizations. The factor mentioned above is propelling the growth of the BFSI security market. Furthermore, increasing crime rates related to bank robberies and the need for physical security in the bank premises is bolstering the growth of the BFSI security market.
MARKET SCOPE
The "Global BFSI Security Market Analysis to 2028" is a specialized and in-depth study of the BFSI security industry with a special focus on the global market trend analysis. The report aims to provide an overview of BFSI security market with detailed market segmentation by type and geography. The global BFSI security market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading BFSI security market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global BFSI Security market is segmented on the basis of type into physical and information security. The physical security segment of BFSI security market is further sub-segmented into video surveillance, access control, intrusion and fire detection, physical security information management (PSIM), maintenance and support services, design and consulting services, and system integration services. Also, the information security segment of BFSI security market is sub-categorized into risk & compliance management, Identity & Access Management, encryption, unified threat management (UTM), disaster recovery, firewall, data loss protection, web filtering, and Other Solutions, consulting services, design & integration services, and other services.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global BFSI security market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). The BFSI security market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the BFSI security market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and SAM after evaluating political, economic, social and technological factors affecting the BFSI security market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global BFSI security market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). The BFSI security market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the BFSI security market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and SAM after evaluating political, economic, social and technological factors affecting the BFSI security market in these regions.
MARKET PLAYERS
The reports cover key developments in the BFSI security market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from BFSI security market are anticipated to lucrative growth opportunities in the future with the rising demand for BFSI security in the global market. Below mentioned is the list of few companies engaged in the BFSI security market.
The report also includes the profiles of key BFSI security companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Booz Allen Hamilton Holding Corporation
- Broadcom
- Cisco Systems, Inc.
- Dell EMC
- DXC Technology
- Honeywell International, Inc.
- IBM Corporation
- Mcafee, Inc. (Intel Security Group)
- Sophos Group PLC.
- Trend Micro Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
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to segments covered.
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 BFSI Security Market - By Type
1.3.2 BFSI Security Market - By Region
1.3.2.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BFSI SECURITY MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. BFSI SECURITY MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. BFSI SECURITY MARKET - GLOBAL MARKET ANALYSIS
6.1. BFSI SECURITY - GLOBAL MARKET OVERVIEW
6.2. BFSI SECURITY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BFSI SECURITY MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. PHYSICAL SECURITY
7.3.1. Overview
7.3.2. Physical Security Market Forecast and Analysis
7.3.3. Video Surveillance Market
7.3.3.1. Overview
7.3.3.2. Video Surveillance Market Forecast and Analysis
7.3.4. Access Control Market
7.3.4.1. Overview
7.3.4.2. Access Control Market Forecast and Analysis
7.3.5. Intrusion and Fire Detection Market
7.3.5.1. Overview
7.3.5.2. Intrusion and Fire Detection Market Forecast and Analysis
7.3.6. Physical Security Information Management (PSIM) Market
7.3.6.1. Overview
7.3.6.2. Physical Security Information Management (PSIM) Market Forecast and Analysis
7.3.7. Maintenance and Support Services Market
7.3.7.1. Overview
7.3.7.2. Maintenance and Support Services Market Forecast and Analysis
7.3.8. Design and Consulting Services Market
7.3.8.1. Overview
7.3.8.2. Design and Consulting Services Market Forecast and Analysis
7.3.9. System Integration Services Market
7.3.9.1. Overview
7.3.9.2. System Integration Services Market Forecast and Analysis
7.4. INFORMATION SECURITY
7.4.1. Overview
7.4.2. Information Security Market Forecast and Analysis
7.4.3. Risk and Compliance Management Market
7.4.3.1. Overview
7.4.3.2. Risk and Compliance Management Market Forecast and Analysis
7.4.4. Identity and Access Management Market
7.4.4.1. Overview
7.4.4.2. Identity and Access Management Market Forecast and Analysis
7.4.5. Encryption Market
7.4.5.1. Overview
7.4.5.2. Encryption Market Forecast and Analysis
7.4.6. Unified Threat Management (UTM) Market
7.4.6.1. Overview
7.4.6.2. Unified Threat Management (UTM) Market Forecast and Analysis
7.4.7. Disaster Recovery Market
7.4.7.1. Overview
7.4.7.2. Disaster Recovery Market Forecast and Analysis
7.4.8. Firewall Market
7.4.8.1. Overview
7.4.8.2. Firewall Market Forecast and Analysis
7.4.9. Data Loss Protection Market
7.4.9.1. Overview
7.4.9.2. Data Loss Protection Market Forecast and Analysis
7.4.10. Web Filtering Market
7.4.10.1. Overview
7.4.10.2. Web Filtering Market Forecast and Analysis
7.4.11. Other Solutions Market
7.4.11.1. Overview
7.4.11.2. Other Solutions Market Forecast and Analysis
7.4.12. Consulting Services Market
7.4.12.1. Overview
7.4.12.2. Consulting Services Market Forecast and Analysis
7.4.13. Design and Integration Services Market
7.4.13.1. Overview
7.4.13.2. Design and Integration Services Market Forecast and Analysis
7.4.14. Other Services Market
7.4.14.1. Overview
7.4.14.2. Other Services Market Forecast and Analysis
8. BFSI SECURITY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
8.1. NORTH AMERICA
8.1.1 North America BFSI Security Market Overview
8.1.2 North America BFSI Security Market Forecasts and Analysis
8.1.3 North America BFSI Security Market Forecasts and Analysis - By Type
8.1.4 North America BFSI Security Market Forecasts and Analysis - By Countries
8.1.4.1 United States BFSI Security Market
8.1.4.1.1 United States BFSI Security Market by Type
8.1.4.2 Canada BFSI Security Market
8.1.4.2.1 Canada BFSI Security Market by Type
8.1.4.3 Mexico BFSI Security Market
8.1.4.3.1 Mexico BFSI Security Market by Type
8.2. EUROPE
8.2.1 Europe BFSI Security Market Overview
8.2.2 Europe BFSI Security Market Forecasts and Analysis
8.2.3 Europe BFSI Security Market Forecasts and Analysis - By Type
8.2.4 Europe BFSI Security Market Forecasts and Analysis - By Countries
8.2.4.1 Germany BFSI Security Market
8.2.4.1.1 Germany BFSI Security Market by Type
8.2.4.2 France BFSI Security Market
8.2.4.2.1 France BFSI Security Market by Type
8.2.4.3 Italy BFSI Security Market
8.2.4.3.1 Italy BFSI Security Market by Type
8.2.4.4 United Kingdom BFSI Security Market
8.2.4.4.1 United Kingdom BFSI Security Market by Type
8.2.4.5 Russia BFSI Security Market
8.2.4.5.1 Russia BFSI Security Market by Type
8.2.4.6 Rest of Europe BFSI Security Market
8.2.4.6.1 Rest of Europe BFSI Security Market by Type
8.3. ASIA-PACIFIC
8.3.1 Asia-Pacific BFSI Security Market Overview
8.3.2 Asia-Pacific BFSI Security Market Forecasts and Analysis
8.3.3 Asia-Pacific BFSI Security Market Forecasts and Analysis - By Type
8.3.4 Asia-Pacific BFSI Security Market Forecasts and Analysis - By Countries
8.3.4.1 Australia BFSI Security Market
8.3.4.1.1 Australia BFSI Security Market by Type
8.3.4.2 China BFSI Security Market
8.3.4.2.1 China BFSI Security Market by Type
8.3.4.3 India BFSI Security Market
8.3.4.3.1 India BFSI Security Market by Type
8.3.4.4 Japan BFSI Security Market
8.3.4.4.1 Japan BFSI Security Market by Type
8.3.4.5 South Korea BFSI Security Market
8.3.4.5.1 South Korea BFSI Security Market by Type
8.3.4.6 Rest of Asia-Pacific BFSI Security Market
8.3.4.6.1 Rest of Asia-Pacific BFSI Security Market by Type
8.4. MIDDLE EAST AND AFRICA
8.4.1 Middle East and Africa BFSI Security Market Overview
8.4.2 Middle East and Africa BFSI Security Market Forecasts and Analysis
8.4.3 Middle East and Africa BFSI Security Market Forecasts and Analysis - By Type
8.4.4 Middle East and Africa BFSI Security Market Forecasts and Analysis - By Countries
8.4.4.1 South Africa BFSI Security Market
8.4.4.1.1 South Africa BFSI Security Market by Type
8.4.4.2 Saudi Arabia BFSI Security Market
8.4.4.2.1 Saudi Arabia BFSI Security Market by Type
8.4.4.3 U.A.E BFSI Security Market
8.4.4.3.1 U.A.E BFSI Security Market by Type
8.4.4.4 Rest of Middle East and Africa BFSI Security Market
8.4.4.4.1 Rest of Middle East and Africa BFSI Security Market by Type
8.5. SOUTH AND CENTRAL AMERICA
8.5.1 South and Central America BFSI Security Market Overview
8.5.2 South and Central America BFSI Security Market Forecasts and Analysis
8.5.3 South and Central America BFSI Security Market Forecasts and Analysis - By Type
8.5.4 South and Central America BFSI Security Market Forecasts and Analysis - By Countries
8.5.4.1 Brazil BFSI Security Market
8.5.4.1.1 Brazil BFSI Security Market by Type
8.5.4.2 Argentina BFSI Security Market
8.5.4.2.1 Argentina BFSI Security Market by Type
8.5.4.3 Rest of South and Central America BFSI Security Market
8.5.4.3.1 Rest of South and Central America BFSI Security Market by Type
9. INDUSTRY LANDSCAPE
9.1. MERGERS AND ACQUISITIONS
9.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
9.3. NEW PRODUCT LAUNCHES
9.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
10. BFSI SECURITY MARKET, KEY COMPANY PROFILES
10.1. BOOZ ALLEN HAMILTON HOLDING CORPORATION
10.1.1. Key Facts
10.1.2. Business Description
10.1.3. Products and Services
10.1.4. Financial Overview
10.1.5. SWOT Analysis
10.1.6. Key Developments
10.2. BROADCOM
10.2.1. Key Facts
10.2.2. Business Description
10.2.3. Products and Services
10.2.4. Financial Overview
10.2.5. SWOT Analysis
10.2.6. Key Developments
10.3. CISCO SYSTEMS, INC.
10.3.1. Key Facts
10.3.2. Business Description
10.3.3. Products and Services
10.3.4. Financial Overview
10.3.5. SWOT Analysis
10.3.6. Key Developments
10.4. DELL EMC
10.4.1. Key Facts
10.4.2. Business Description
10.4.3. Products and Services
10.4.4. Financial Overview
10.4.5. SWOT Analysis
10.4.6. Key Developments
10.5. DXC TECHNOLOGY
10.5.1. Key Facts
10.5.2. Business Description
10.5.3. Products and Services
10.5.4. Financial Overview
10.5.5. SWOT Analysis
10.5.6. Key Developments
10.6. HONEYWELL INTERNATIONAL, INC.
10.6.1. Key Facts
10.6.2. Business Description
10.6.3. Products and Services
10.6.4. Financial Overview
10.6.5. SWOT Analysis
10.6.6. Key Developments
10.7. IBM CORPORATION
10.7.1. Key Facts
10.7.2. Business Description
10.7.3. Products and Services
10.7.4. Financial Overview
10.7.5. SWOT Analysis
10.7.6. Key Developments
10.8. MCAFEE, INC. (INTEL SECURITY GROUP)
10.8.1. Key Facts
10.8.2. Business Description
10.8.3. Products and Services
10.8.4. Financial Overview
10.8.5. SWOT Analysis
10.8.6. Key Developments
10.9. SOPHOS GROUP PLC.
10.9.1. Key Facts
10.9.2. Business Description
10.9.3. Products and Services
10.9.4. Financial Overview
10.9.5. SWOT Analysis
10.9.6. Key Developments
10.10. TREND MICRO INC.
10.10.1. Key Facts
10.10.2. Business Description
10.10.3. Products and Services
10.10.4. Financial Overview
10.10.5. SWOT Analysis
10.10.6. Key Developments
11. APPENDIX
11.1. ABOUT THE INSIGHT PARTNERS
11.2. GLOSSARY OF TERMS
1. Booz Allen Hamilton Holding Corporation
2. Broadcom
3. Cisco Systems, Inc.
4. Dell EMC
5. DXC Technology
6. Honeywell International, Inc.
7. IBM Corporation
8. Mcafee, Inc. (Intel Security Group)
9. Sophos Group PLC.
10. Trend Micro Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.