Data Bridge Market Research analyses that the banking, financial services and insurance (BFSI) security market was valued at USD 49.90 billion in 2021 and is expected to reach USD 119.21 billion by 2029, registering a CAGR of 11.50% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Data Bridge Market Research has unveiled a new report called "Banking, Financial Services and Insurance (BFSI) Security Market" which provides an in-depth exploration of growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and the competitive landscape. The "Banking, Financial Services and Insurance (BFSI) Security Market" marketing report offers an in-depth investigation of the market driving factors, opportunities, restraints, and challenges for obtaining crucial insight of the market.


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Market Definition:
Banking, financial services, and insurance (BFSI) is an industry phrase that refers to businesses that offer a variety of financial products and services. This includes universal banks that provide a variety of financial services and enterprises that operate in one or more of these financial industries. Insurance firms, commercial banks, non-banking financial companies, cooperatives, pension funds, mutual funds, and other smaller financial institutions make up the BFSI sector.
Some of the major players operating in the banking, financial services and insurance (BFSI) security market are:
  • IBM (US)
  • Cisco Systems, Inc. (US)
  • DXC Technology Company (US)
  • Honeywell International, Inc. (US)
  • Booz Allen Hamilton, Inc. (US)
  • McAfee, LLC (US)
  • Sophos Group Plc. (US)
  • Broadcom (US)
  • Trend Micro Incorporated (Japan)
  • RSA Security LLC (US)
  • FireEye, Inc (US)
  • Hewlett Packard Enterprise Development LP (US)
  • LogRhythm, Inc. (US)
  • Fortinet, Inc (US)
  • Huntsman International LLC. (US)
  • Securonix, Inc. (US)
  • Juniper Networks, Inc. (US)
  • Hillstone Networks (China)
  • Exabeam (US)
  • Alert Logic, Inc (US)
  • Forcepoint (US)
  • Haystax (US)
Global Banking, Financial Services and Insurance (BFSI) Security Market Scope:
The banking, financial services and insurance (BFSI) security market is segmented on the basis of type, verticals and services. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
  • Physical Security
  • Virtual Security
On the basis of type, banking, financial services and insurance (BFSI) security market is segmented into physical security and virtual security.
  • Banking
  • Insurance Companies
Based on verticals, the banking, financial services and insurance (BFSI) security market is segmented into banking and insurance companies.
  • System Integration
  • Maintenance
  • Support
The banking, financial services and insurance (BFSI) security market is also segmented on the basis of services into system integration, maintenance and support.
Banking, Financial Services and Insurance (BFSI) Security Market Regional Analysis/Insights:
  • The banking, financial services and insurance (BFSI) security market is analysed and market size insights and trends are provided by country, type, verticals and services as referenced above.
  • The countries covered in the banking, financial services and insurance (BFSI) security market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.
  • North America dominates the banking, financial services and insurance (BFSI) security market in terms of market share and market revenue. It will continue to flourish its dominance during the forecast period. This is due to major key players and rising internet penetration in this region. Additionally, the increase in risk of data loss will propel the market's growth rate in this region.
  • On the other hand, Asia-Pacific is projected to exhibit the highest growth rate during the forecast period of 2022 to 2029 due to the rising adoption of advanced banking solutions in China, Japan, and India.
  • The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.  
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