The major Key players in BFSI security Market are Booz Allen Hamilton, Cisco, CSC, EMC, Honeywell, IBM, McAfee, Sophos, Symantec, Trend Micro, and many more.
(PRWEB) November 11, 2014
The research report "BFSI Security Market by Physical Security (Video Surveillance, Access Control, Intrusion Detection, PSIM), & by Cyber Security (IAM, Encryption, DLP, IDS/IPS, UTM, SVM/SIEM, Antivirus/Antimalware) - Worldwide Forecasts & Analysis (2014 - 2019)", defines the global market on the basis of physical security systems and services, information security solutions and services along with, revenue forecasts, market drivers & restraints, future opportunities.
Browse 84 market data tables and 45 figures spread through 171 pages and in-depth TOC on "BFSI Security Market - Forecasts and Analysis (2014 - 2019)"
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In recent times, the BFSI sector has experienced major transformations in terms of mergers and acquisitions, and advanced information technology adoption. Services such as Internet banking, ATMs, mobile banking and retail banking have been introduced to cater the customer demands including easy access to the accounts and streamlining the transaction channels. Moreover, financial institutions are also aiming to reduce paper work, placing standardized electronic processes and building trust amongst customers; they are also bringing huge investments in information technology to meet the aforementioned goals. With this, advanced physical risks and cyber threats continue to prevail worldwide and are responsible for causing huge monetary losses to the banks, insurance companies, and other financial institutions. Furthermore, the continuous attacks on the confidential business information, intellectual property, and physical assets along with robbery crimes for money and financial data are increasing with new business trends in the form of enterprise mobility and Internet of Things (IOT).
The latest change in working environment across the BFSI industry is raising a lot of concerns for privacy and risk mitigation thereafter enhancing the need for strict government mandates for security solutions deployment. Strict security policy frameworks have been established by regulatory bodies including various acts in the form of Gramm-Leach-Bliley Act (GLBA), Health Insurance Portability and Accountability Act (HIPAA), Personal Information Protection and Electronics Document Act (PIPEDA), Payment Card Industry Data Security Standard (PCI-DSS), and Sarbanes-Oxley (SOX) among others.
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MarketsandMarkets considers companies such as Booz Allen Hamilton, Cisco, CSC, EMC, Honeywell, IBM, McAfee, Sophos, Symantec, and Trend Micro to be key players in the BFSI security market. The security solution vendors are monitoring the latest operational trends of the industry and are extensively promoting research and development of advance security technologies.
MarketsandMarkets forecasts that the global BFSI Security Market is expected to grow from $21.53 billion in 2014 to $37.35 billion by 2019. This represents an estimated Compound Annual Growth Rate (CAGR) of 11.6% from 2014 to 2019. The North American market has already seen the deployment of BFSI security solutions due to the rapid implementation of advanced technological services in the industry.
In the near future, MarketsandMarkets expects the market for BFSI security to rise in emerging economies of Asia-Pacific (APAC) and Middle East and Africa (MEA) due to continual growth in the adoption of IP-based video surveillance, authentication, and biometrics. MarketsandMarkets expects North America (NA) to retain its position as the highest revenue generator for BFSI security market, while significant revenue growth is expected from APAC and MEA region.
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Physical Security Market by System and Services (Access Control, IP Video Surveillance Management Software, Locks, PSIM, Perimeter Intrusion Detection, System Integration, and Designing and Consulting) - Worldwide Forecast & Analysis (2014 - 2019)
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