The global BFSI security market size was valued at $42,738 million in 2019, and is projected to reach $114,498 million by 2027, registering a CAGR of 13.2%.
— Pramod Borasi, Research Analyst, BFSI
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Allied Market Research (Portland, Oregon, USA) Published Latest Report Titled, “BFSI Security Market by Security Type (Physical Security [System & Services] and Information Security [Solution & Services]), Enterprise Size (Large Enterprises and Small & Medium Enterprises (SMEs)), and End User (Bank, Insurance Companies, and Others) : Global Opportunity Analysis and Industry Forecast, 2020–2027.”
The global BFSI security market garnered $42.73 billion in 2019, and is estimated to generate $114.498 billion by 2027, manifesting a CAGR of 13.2% from 2020 to 2027.
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According to Allied Market Research, the global BFSI Security Market is expected to showcase remarkable growth during the forecast period. The report includes a detailed study of the BFSI Security market size, market trends, prime market players, sales analysis, major driving factors, and prime investment pockets. The global BFSI Security Market report covers an overview of the market and outlines market definition and scope. The ongoing technological developments and surge in demand have an influential effect on the market growth. Furthermore, the report provides a quantitative and qualitative analysis of the BFSI Security Market, outlines the pain point analysis, value chain analysis, and key regulations.
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Moreover, the study provides Porter’s five forces model, along with portfolio and financial analysis and business overview of services and products. The report outlines market segmentation and growth analysis of the top 10 market players that are currently active in the BFSI Security industry. The report also contains information and statistics, tables and figures that are used in strategic planning for the company’s success.
The report covers brief analysis of the impact of the Covid-19 outbreak on the BFSI Security Market. The prolonged lockdown and disrupted supply chain across coupled with strict restrictions on international trade have a severe impact on the BFSI Security Market growth. The Covid-19 pandemic increased the prices of raw materials and changed customer preferences.
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Key Market Segments
By Security Type
• Physical Security
• Cyber Security
By Physical Security Offering
o Physical Access System
o Video Surveillance System
o Perimeter Intrusion and Detection
o Physical Security Information Management
o Remote Monitoring Services
o Security Systems Integration Services
By Information Security Offering
o Identity & Access Management (IAM)
o Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
o Data Loss Prevention (DLP)
o Disaster Recovery
o Distributed Denial of Service (DDoS)
o Other Solutions
o Implementation & Integration Service
o Consulting Service
o Support & Maintenance Service
By Enterprise Size
• Large Enterprises
• Small & Medium Enterprises (SMEs)
• By End User
• Insurance Companies
Key market players
• Booz Allen Hamilton Inc.
• Cisco Systems, Inc.
• Dell Inc.
• Honeywell International Inc.
• IBM Corporation
• McAfee, LLC
• Sophos Ltd
• Trend Micro Incorporated
Geographical Landscape of the BFSI Security Market:
1) North America (United States, Canada, and Mexico)
2) Europe (Germany, France, UK, Russia, and Italy)
3) Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
4) South America (Brazil, Argentina, Colombia)
5) Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
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A thorough analysis of every segment helps to make strategic decisions and make profitable investments in the future. Furthermore, it helps market players to gain a competitive edge. The BFSI Security Market analysis of segment and sub-segment is offered in graphical and tabular formats. This study is vital to understanding the highest revenue-generating and fasting-growing segments of the market. The global BFSI Security Market report offers a thorough study of the major market players that are currently dominating the industry. The report includes the production, sales, and revenue analysis of these companies. These companies have adopted various business strategies such as new product launches, mergers & acquisitions, partnerships, and collaborations to maintain market position.
The report will include highlights of the overall market which includes Frequently Asked Questions [FAQs] such as:
Q1. What is the current BFSI Security Market trend taking place in the market space?
Q2. What are historical revenue figures and estimated revenue figures as well as CAGR during the BFSI Security Market forecast timeframe?
Q3. Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?
Q4. What are market drivers, restraints, and challenges impacting demand & growth of the market?
Q5. Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?
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