What is Financial Cyber Security Market?
The global finance cyber security market is expected to grow at a slow pace during the forecast period, according to the AMA study. The rising awareness for data privacy across the financial sector and growing demand for secured financial transactions are expected to be some of the major factors aiding into the growth of this market. However, the market is expected to witness a slight decline in the growth during the next few years but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
Highlights from Financial Cyber Security Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | McAfee, LLC (United States), Proofpoint (United States), Cygilant, Inc. (Unietd States), Palo Alto Networks, Inc. (United States), FireEye, Inc. (United States), Broadcom, Inc. (United States), AO Kaspersky Lab (Russia), Ernst & Young Global Limited (United Kingdom), IBM (United States), Experian Information Solutions Inc. (United States), Accenture plc (Ireland), Airbus SE (France), AT&T Intellectual Property (United States), Vmware, Inc. (United States), Pitney Bowes Inc. (United States) and Amazon Web Services, Inc. (United States) |
The vendors in this market are majorly focusing on developing innovative services in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production or services and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Financial Cyber Security market throughout the forecasted period.
McAfee, LLC (United States), Proofpoint (United States), Cygilant, Inc. (Unietd States), Palo Alto Networks, Inc. (United States), FireEye, Inc. (United States), Broadcom, Inc. (United States), AO Kaspersky Lab (Russia), Ernst & Young Global Limited (United Kingdom), IBM (United States), Experian Information Solutions Inc. (United States), Accenture plc (Ireland), Airbus SE (France), AT&T Intellectual Property (United States), Vmware, Inc. (United States), Pitney Bowes Inc. (United States) and Amazon Web Services, Inc. (United States) are some of the key players profiled in the study. Financial Cyber Security Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Banks, Investment Funds, Insurance Companies, Stock Brokerages, Credit Card Companies and Others |
Enterprise Size | SMEs,Large Enterprises |
Technology | Endpoint Security,Identity & Access Management,Mobile Enterprise Management,Mobile Security,Security Information & Event Management,Content Security,Data Loss Prevention (DLP) Security,Others |
End Use | Payment Cards & Mobile Payment Security,Electronic Money,Non-Cash Transactions,Mobile Devices Security,Cryptocurrency Cybersecurity,Others |
Service | Managed,Professional |
On the basis of geography, the market of Financial Cyber Security has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of Next Generation Firewall Systems for Different Financial Services
Market Growth Drivers:
Rising Awareness for Data Privacy Across the Financial Sector and Growing Demand for Secure Financial Transactions from the End Users
Challenges:
Presence of Large Number of Players
Restraints:
The Outbreak of COVID-19 Pandemic is one of the Major Restraints for the Market as Most of the Industries have been Facing Economic Crisis Across the World
Opportunities:
Opportunities in the Asia Pacific Region and Rising Awareness to Avoid Cyber Attacks for Financial Transactions
Market Leaders & Development Strategies
In August 2019, Boradcom Inc. Announced that it has signed an agreement to acquire enterprise security business of Symantec Corporation for USD 10.7 billion in cash
In January 2020, Accenture announced that it has signed an agreement with Broadcom to acquire its last year's acquisition of Symantec’s Cyber Security Services business.
Stringent Worldwide Government Regulations Regarding Lock-Down of Markets & Cities Across Different Countries of the World to Avoid the Spread of COVID-19