DUBLIN, June 23, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "BFSI Security Market - Global Drivers, Opportunities, Trends, and Forecasts to 2023" report to their offering.
The BFSI sector deals with the largest bulk of financials facilitating transactions, insurance, and other financial services to the customer. This sector has been victim to huge cyber crimes, physical risks, and terrorism, thereby demanding increased security measures for the industry. The growing adoption of technology, increasing use of internet, cloud, electronic platform, online and mobile banking are all together leading to increased susceptibility to cyber and physical threats to data and information of the banking customers. This is enhancing the need to implement new and improved solution for secure transactions in the BFSI industry.
The BFSI sector is growing far beyond the traditional method and is improving the spectrum of services & customer experience. The growth in terrorism, physical, and cyber-attacks (2016 attack which led to compromise 3.2 million debit card holders in India), the incidence of ransomware attack intruding the systems in around 150 countries are some of the major reasons driving the change in the BFSI industry and necessitating the need for enhanced security measures. Also, the increased need for remote monitoring and banking solutions is further giving impetus to the growth of the market. The market has high opportunities in analytics, biometrics, and ethical hacking. Biometrics has largely been implemented in the industry, and its adoption is increasing at a fast pace owing to the extent of security and safety it leverages.
The growth in the number of web data breaches and its increasing pace have changed the perception held by the BFSI industry. There is a growing shift towards the adoption of new software to protect the integrity of banks and customer data. The various software available are identity and access management, unified threat management, IDS/IPS, disaster recovery, security and vulnerability management, and encryption. The growth in BYOD, mobile apps, and cloud has resulted in the greatest adoption of IAM in the banking industry. The increased terror activities, robberies, identity stealing, and data breaches are amongst the major reasons driving the need for physical security in the banking industry. The various technologies leveraging the BFSI sector with physical security are access control, video surveillance, physical security information management, intrusion, and fire detection. The BFSI premises have already installed video surveillance, IAM, encryption, and fire detection systems; and many countries have mandated such installations owing to the need of security.
- Cisco Systems
- Dell Security
- FireEye, Inc.
- Gemalto NV
- Herjavec Group
- McAfee LLC
- Symantec Corp.
- Trend Micro Incorporated
Key Topics Covered:
1 Industry Outlook
2 Report Outline
3 Market Snapshot
4 Market Outlook
5 Market Characteristics
6 Information Security
7 Physical Security
8 End Users: Market Size and Analysis
9 Regions: Market Size and Analysis
10 Competitive Landscape
11 Vendor Profiles
12 Global Generalist
For more information about this report visit https://www.researchandmarkets.com/research/2h2f78/bfsi_security
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SOURCE Research and Markets