0
Upcoming Allied Market Research
2023
Bfsi In It Market

BFSI in IT Market

by Type (Information Security, Physical Security) and by Information Security type (Identity and access management, Risk and Compliance Management, Encryption, Firewall, Unified Threat Management, Data Loss Protection, Antivirus/Antimalware, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Report Code: A11751
Pages: NA
Jul 2023 | 2411 Views
Author(s) : Vijay P
Tables: NA
Charts: NA
  • Formats*:

  • pdf

    Single User License, Five User
    License & Enterprise User License

  • xls

    Data Pack Excel License

  • ppt

    It comes with the additional cost
    of $2500.00 contact sales.

 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Bfsi In It Market

Request Now !

BFSI in IT Market Outlook - 2030

Banking, financial services, and insurance companies make up the BFSI sector, which operates in a highly regulated and secure business environment. Many financial exchanges in all other sectors are built on the foundation of BFSI. It has become an essential component of the overall national critical infrastructure as well as an integral part of other critical infrastructure systems. Non-compliance with various standards may cause security incidents in a variety of situations. Furthermore, rise in demand for IT services, owing to data breaches and other security issues across various operational standards, propels the market growth.

Advanced security solutions are expected to emerge as regulatory standards, cloud-based security solutions became more widely adopted, and more modes of online payment became available. Attributed to this widespread use of cloud-based technologies, data has become more vulnerable to cyber-attacks. Hackers have started targeting banks that use the SWIFT network to send money-moving messages with malware. Therefore, to provide safety & security methods for customers across the BFSI segment, the rise in demand to provide high-safety measures is expected to boost the secured payment solution market growth.

The global BFSI in IT market is segmented on the basis of type, information security type, physical security type, service type, enterprise size and region. Based on type, the market is divided into information security and physical security. In terms of information security type, the BFSI in IT market is categorized into identity and access management, risk and compliance management, encryption, firewall, unified threat management, data loss protection, antivirus/antimalware and others.

On the basis of physical security type, the market is divided into access control, video surveillance, intrusion & fire detection, physical security information management and others. On the basis of service type the BFSI in IT market is divided into system integration, maintenance & support and others. On the basis of enterprise size the market is divided into large enterprise, small & medium enterprises. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global BFSI in IT industry include McAfee LLC, Microsoft Corporation, International Business Machines (IBM) Corporation, Cisco Systems Inc., Broadcom Inc., Check Point Software Technologies Ltd., Dell Inc., Imperva Inc., Fortinet Inc., Booz Allen Hamilton Inc., and Sophos Ltd. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global BFSI in IT market.

COVID-19 Impact Analysis

  • During the COVID-19 outbreak, majority of companies witnessed a devastating decline in the market; however, the BFSI sector had a positive impact, as governments declared lockdowns in the affected countries, which, in turn, enforced consumers to adopt technology more than before, and thus adoption of online and digital financial services increased rapidly globally.
  • During the pandemic, the BFSI sector providers increasingly offered software-as-a-service under security platforms, which is gaining traction. As a result, during the global health crisis, this has become one of the major factors affecting the BFSI in IT market forecast.

Top Impacting Factors

Increase in adoption of digitalization in the BFSI sector and rise in cyber data breaches drive the growth of the market. In addition, increasing adoption of cloud-based security solutions propels the growth of the market. However, the risk of third-party services is expected to hamper the growth of the market. Contrarily, increased adoption of advanced technologies across many organizations in the BFSI sector is expected to provide lucrative opportunities to the market in the coming years.

Increase in Adoption of Digitalization in the BFSI Sector

The BFSI sector's rapid adoption of technologies, such as artificial intelligence, machine learning, and block chain, resulted in massive data security threats. Furthermore, as this industry becomes more digitalized, demand for data security due to cyber-attacks and theft continues to rise in the BFSI market. Furthermore, banks, financial institutions, and other financing firms are rapidly transitioning to digitalized business operations, resulting in massive increase in the adoption and implementation of security solutions and services. As a result, cyber-security services are provided to protect the BFSI sector from such threats, which is one of the major factors driving the market growth and is expected to foster the growth of the BFSI in IT market during the forecast period.

Increased Adoption of Cloud-Based Security Solutions

During the forecast period, the BFSI sector, which was a pioneer in the adoption of computer and networking systems to reduce large, space-intensive repositories and databases, is expected to have a significant share of the cloud managed services market. The rapid adoption of cloud services by businesses across the world has fueled the growth of cloud managed services. Small & medium businesses have emerged as the most promising consumers of cloud services due to increased flexibility and introduction of "pay as you go" model.

As a result of the growing adoption of cloud services, the cloud managed services market is expected to grow rapidly. Moreover, increased importance of cloud-based security systems for protecting the banking systems and reducing data breach across different branches are the major factors accelerating the adoption of cloud-based securities. This is expected to foster the market growth during the forecast period.

Key Benefits of the Report

  • This study presents analytical depiction of the global BFSI in IT market along with the current trends and future estimations to determine the imminent investment pockets.  
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the BFSI in IT market share.         
  • The current market is quantitatively analyzed to highlight the global BFSI in IT market growth scenario.              
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed BFSI in IT market analysis depending on the present and future competitive intensity of the market.

Questions Answered in the BFSI in IT Market Research Report

  • Which are the leading players active in the global BFSI in IT market size?
  • What are the detailed impacts of COVID-19 on the BFSI in IT market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the BFSI in IT market trends?
  • What future projections would help in taking further strategic steps?

BFSI in IT Market Report Highlights

Aspects Details
By Type
  • Information Security
  • Physical Security
By Information Security type
  • Identity and access management
  • Risk and Compliance Management
  • Encryption
  • Firewall
  • Unified Threat Management
  • Data Loss Protection
  • Antivirus/Antimalware
  • Others
By Region
  • North America  (U.S., Canada)
  • Europe  (France, Germany, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players Check Point Software Technologies Ltd., Dell Inc., Sophos Ltd., Cisco Systems Inc., Booz Allen Hamilton Inc., Fortinet Inc., Microsoft Corporation, Imperva Inc., McAfee LLC, Broadcom Inc., International Business Machines (IBM) Corporation
 

Loading Table Of Content...


 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.

PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : +44-845-528-1300
Email : help@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Enquiry Now
RELATED TAGS

Purchase Full Report of
Bfsi In It Market

Start reading.
This Report and over 53,743+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,690
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
  • Data Pack
  • $3,840
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Single User
  • $5,820
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Five Users
  • $6,540
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Enterprise
    License/PDF

  • $9,870
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Library
    Membership

  • $999 $ 1,175
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

RELATED REPORTS
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers