Global Cyber Security in Financial Services Market Overview:
Cyber security is specially designed to keep electronic information private and safe from damage or theft. It is widely used in banking to protect the customer’s personal information. Rising cashless transactions and the use of online banking activities are major factors driving the global cyber security in financial services market growth.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Rising Frauds Related to Financial Services and Advancement in Technologies over the Globe
Market Growth Drivers:
Increasing Applications of Cyber Security In Financial Services and Growing Reliance on data, Technology, and Interconnectivity with Companies Collecting, Storing, and Processing Massive Amounts of Data
Challenges:
Stringent Guidelines Regarding the Application of Cyber Security In Financial Services
Restraints:
Problems with Cyber Attacks including Electrical Blackouts, Failure of Military Equipment, and Others
Opportunities:
Rising Implementation of Cyber Security In Financial Services can create Opportunities for the Market Growth
Competitive Landscape:
Global Cyber Security In Financial Services is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching New Services. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are FireEye, Inc. (United States), Microsoft Corporation (United States), Fortinet Inc. (United States), McAfee LLC. (United States), Oracle Corporation (United States), Palo Alto Networks, Inc. (United States), Cisco Systems (United States), Juniper Networks (United States), Symantec Corporation (United States) and IBM Corp. (United States). Additionally, following companies can also be profiled that are part of our coverage like Rapid7 (United States), Mimecast Services Limited (United Kingdom), Imperva (United States) and Forcepoint (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Cyber Security in Financial Services market by 2028. Considering Market by Enterprise Size, the sub-segment i.e. Small and Medium will boost the Cyber Security in Financial Services market. Considering Market by End-Use Verticals, the sub-segment i.e. BFSI will boost the Cyber Security in Financial Services market. Considering Market by Service, the sub-segment i.e. Managed will boost the Cyber Security in Financial Services market. Considering Market by Deployment, the sub-segment i.e. Cloud-Based will boost the Cyber Security in Financial Services market.
Latest Market Insights:
In September 2023, Accenture announced the launch of its new cyber security solution, Accenture Cyber Risk Readiness. The solution is designed to help financial institutions assess and manage their cyber risks.
On 2nd March 2021, Palo Alto Networks, Inc. has acquired the Bridgecrew. The acquisition helps to deliver security across the full application lifecycle. With this acquisition, the company wants to accelerate the global presence and enhance capabilities, including adding new frameworks, expanding the number of checks, and increasing the depth of coverage.
What Can be Explored with the Cyber Security in Financial Services Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Cyber Security in Financial Services Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Cyber Security in Financial Services
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Cyber Security in Financial Services market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Cyber Security in Financial Services market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Cyber Security In Financial Services Providers, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.